sir, what is body corporate ?
as per companies act 2013 and income tax act?
who are body corporate?
pls sir
Body Corporate is defined in section 2(11) of the companies act, 2013
"body corporate" or "corporation" includes a company incorporated outside India, but does not include—
(i) a co-operative society registered under any law relating to co-operative societies; and
(ii) any other body corporate (not being a company as defined in this Act), which the Central Government may, by notification, specify in this behalf;
So generally speaking Company means a Company which is registered under the Companies Act, 2013 and Body corporate includes all companies including companies incorporate outside India as well except for Co operative society.
Eg of Company : Reliance Industries Limited, Tata Steel Limited, Infosys Limited etc
Eg of Body Corporate: Alphabet Inc, Microsoft corporation, facebook Inc etc a foreign companies which are not incorporated in India. However, a subsidiary of such companies (body corporate) if incorporated in India, will be called as Company as per Companies Act. Eg; Google India Private Limited, Pepsico India Private Limited etc.
CAclubindia
