Income tax

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Querist : Anonymous

Querist : Anonymous (Querist)

14 September 2012 difference between A.O.P and partnership firm ?
whether both are same

Amol S Joglekar

Amol S Joglekar (Expert)
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14 September 2012 No, both are not same. Limited period partnerships are mostly taxed as AOP. Joint Ventures fall under this category of AOP. The firm formed under Indian PArtnership Act, is taxed as FIRM

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Querist : Anonymous

Querist : Anonymous (Querist)

16 September 2012 iska matlab sir jo thodhi der ke liye partnership firms bnati hain vo AOP`S hai
kya isme LLP`S BHI AA JAYEGI

CS Pawan Kumar Baid

CS Pawan Kumar Baid (Expert)
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17 September 2012 AOP in Associate of "Person" and person includes natural as well as artificial person like company. Firm consist of only natural person. Hence LLP is AOP because it is artificial person.

Firm formed for small duration is Firm and not AOP

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