AOP & BOI

Dear Vishnu,

Rgarding ur First query - I think it is based on Sec 26 -

Luk AOP is considered as a separate assessee distinct from its members.

The term "AOP" is of wider meaning  & covers "Co -owernership" as well.

Ya u r rite Sec 26 is mandatory becos of the use of the word "shall". Further this point was also comfirmed by Honbl HC of Calcutta.

Sec 26 is a section which is beneficial to assessee. So Bhai lets be satisfied with the fact that Law has given a mandatory force to a beneficial section..........:))

Regarding ur second query - Difference between AOP & BOI -

Now I will show u magic -Differnce will be clear on its own just expand these terms -

Association of Persons

Body of Individuals

Now "Persons" as defined u/s 2 includes - Individual, Fiirm, Company,etc .......even AOP..........:))

"Individuals"  not defined but I guess not required.................:))