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Types of person under IT Act

02 October 2017

What is the difference between Associaton of Persons & Body of Individuals?
A person includes individuals, so AOP sgould include Body of Individuals

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10 Replies

Aswin Siva (Articled Assistant) (30 Points)
Replied 02 October 2017

In AOP anybody can be a member that's individual, firm, company etc.,
In BOI only individuals can become member

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Ashwin Kumar (1229 Points)
Replied 02 October 2017

yeah I agree with siva only individual natural persons can become members under BOI whereas any artificial person recognised under the eye of law cannot become member in BOI

Sagar Nain (10 Points)
Replied 02 October 2017

Then what is the need for a separate category for BOI?
If AOP includes BOI, then why have another category

RAJA P M ("Do the Right Thing...!!!") (127580 Points)
Replied 02 October 2017

Yess...

I agreed to Both of Mr. Aswin Siva & Ashwin Kumar...

Ashwin Kumar (1229 Points)
Replied 02 October 2017

The difference is a BOI can be a member in AOP.......but an AOP CANNOT BE A MEMBER IN BOI

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Sagar Nain (10 Points)
Replied 02 October 2017

BOI is a person, therefore BOI can be a paet of AOP

Sagar Nain (10 Points)
Replied 02 October 2017

BOI is a person, therefore BOI can be a paet of AOP

Ashwin Kumar (1229 Points)
Replied 02 October 2017

@ sagar nain the key point is AOP includes both artificial and natural persons whereas BOI comprises ONLY OF NATURAL PERSONS

Kãpîl Gûptā (3 Points)
Replied 02 October 2017

three type

Srikanth Yekkaldevi (179 Points)
Replied 02 October 2017

BOI - it is a group of persons ( only individuals ) who joined together for common purpose and it may or may not for earning income .
AOP - it is a group of persons ( individuals , huf , firms etc ) who joined together for common purpose and it must for earning income .