Formalities or modalities to create AoP
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 February 2011
Dear SMEs:
Can any please throw some light on to follow the modalities in creation of an AOP (association of Persons) to create a business opportunity collabaratively?
Regards
Dr. Pavan, Ph.D.(Statistics)
Can any please throw some light on to follow the modalities in creation of an AOP (association of Persons) to create a business opportunity collabaratively?
Regards
Dr. Pavan, Ph.D.(Statistics)
05 February 2011
It is better to create a Firm as certain deductions like interest and remuneration to partners are deductible in the case of firm, whereas in case of an AOP these are not allowed.
For creating an AOP you have to enter into an agreement signed by all the members, on a stamp paper in which the modalities as regards capital contribution, Share in Profit/loss, Name, Address, its business, Duration etc are to be defined.
For creating an AOP you have to enter into an agreement signed by all the members, on a stamp paper in which the modalities as regards capital contribution, Share in Profit/loss, Name, Address, its business, Duration etc are to be defined.
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