HELLO FRIENDS, PLS. TELL ME UNDER THE INCOME TAX ACT PERSON INCLUDES INDIVIDUAL, HUF, FIRM ,CO, AOP, BOI AND ARTIFICIAL JUDICIAL PERSONS.
PLS. TELL ME SOCIETIES AND TRUSTS ARE COVERED UNDER WHICH HEAD.
WHETHER THESE ARE ARTIFICIAL JUDIACIAL PERSON OR NOT?
WHETHER SOCIETY INCOME IS ALSO EXEMPTED?
PLS. HELP ME.
THANKS.
yes it is AOP. When you file the returns you choose AOP(Trust)
WHAT IS DIFFERENCE BETWEEN AOP AND AOP TRUST.
PLS. HELP ME.
THANKS.
A Non Governmental Organization may be an association of persons or a body of individuals. An association of persons with non-profit motive may be registered under any of the following Indian Acts:
1.As a Charitable Trust
2.As a Society registered under the Societies Registration Act
3.As a Company licensed under section 25 of the Companies Act
AOP may consist of individuals and non-individuals but BOI consists only indiviuals only.
Accordingly type of person is determined.
And AOP implies voluntary getting together for a common design , But in case of BOI it is not necessary.
CAclubindia
