Meaning
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 June 2013
What is the difference between Body corporate and Business entity ??
Pls explain in simple terms
Pls explain in simple terms
06 June 2013
1)“Business entity” means any person ordinarily carrying out any activity relating to industry, commerce or any other business or profession. Thus, Government, charitable organisation is not ‘business entity’.
2)Body Corporate – Company, LLP, Cooperative Society is Body Corporate – Firm, HUF, Trust is not ‘Body Corporate’ [Society registered under Societies Act is legally not ‘body corporate’].
2)Body Corporate – Company, LLP, Cooperative Society is Body Corporate – Firm, HUF, Trust is not ‘Body Corporate’ [Society registered under Societies Act is legally not ‘body corporate’].
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