Meaning of BODY CORPORATE FOR RCM ?

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..... Meaning of BODY CORPORATE FOR RCM ?
Query (Issue) Started By: - abbas mukhi Dated:- 26-4-2016 Last Reply Date:- 27-4-2016 Service Tax
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Service Tax
Dear Experts, What is present definition of "BODY CORPORATE" for RCM Purpose ?? Whether "AUTONOMEOUS BODY" incorporated under special act of parliament is body corporate for RCM purpose ? Reply By Rajagop .....

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..... alan Ranganathan: The Reply: Sir, According to Section 2 (11) of Compaznies Act, 2013,'body corporate means ""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 .....

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..... the Central Government may, by notification, specify in this behalf. Since body corporate is not defined in Finance Act, 1994 definition of body corporate provided in Copmpaniews Act, 2013 can be adopted. Reply By Rajagopalan Ranganathan: The Reply: Sir, The term "autonomous body " denotes a self governing body, independent, or subject to its own laws. If autonomous body or instituti .....

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..... on is a company, it is regulated by the company law. If it is a society, it is governed by the law on registration of societies. But in both the cases, its own board of directors can specify the rules of business for the body/institution. For simplicity sake, normally the boards of such bodies or institutions adopt the rules of the concerned Government or department under which they work, but only .....

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..... by passing of a resolution to that effect. Reply By KASTURI SETHI: The Reply: Autonomous body is not body corporate. For e.g. Punjab University, Education Board, Housing Board, PGI etc. are autonomous bodies and they are not body corporates. I have given examples in support of reply Sh. R.Ranganathan, Sir. Reply By abbas mukhi: The Reply: THANK YOU....
Discussion Forum - Knowledge Sharing .....

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