What is a Body Corporate?

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525
income tax form

A company is a body corporate, an independent corporate existence which “distinguishes” it from a partnership. In Indian Laws, a Body Corporate has been defined under Section 2 (7) of the Companies Act, 1956. It includes all the corporations within India and outside India as well, EXCEPT: (1) A Corporation Sole, (2) A Co-operative Society registered under any co-operative societies laws, and (3) Any such other corporations which the central government might include in the Official Gazette as not being a body corporate under the Companies Act, 1956.

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