Clarification regarding 'Body Corporate' for the purpose of section 226(3) (a) of the Companies Act,1956



Clarification Regarding Body Corporate for the Purpose of Section 226 (3) (A) of the Companies Act, 1956 The Ministry of Corporate Affairs has clarified that Limited Liability Partnership of Chartered Accountants will not be treated as body corporate for the limited purpose of section226 (3) (a) under the Companies Act, 1956. Accordingly, a notification has been sent for publication by the Ministry. This clarification follows a number of representations received in the
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Finance news reporter covering taxation, GST, income tax, business compliance, and economy updates. I simplify complex financial topics into easy-to-understand articles for professionals, taxpayers, and business owners on leading finance and tax platforms.

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