what is the difference between body of individual and association of person .
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Tell me please
Replies (19)
An AOP may consists of non individual also but a BOI has to consisits of only individual.
Nice question.Body of individuals can be only individuals. Association of Persons- you can see the definition of Person,viz.,any individual,firm,company,artificial judicial person etc.,, Association of person may consist of such persons..
Manish, Shivaji both are correct.
@ Shivaji and Manish:
You are only saying the difference.
But what is the real crux to decide, whether its an AOP or BOI?
A BOI consists of only individuals and an AOP may also consist of only individuals. Then if an association consists of only individuals, how can you say whether its an AOP or a BOI?
Waiting for your reply!
Thanks!
@ shrikant, good point
however i believe the crux is based on the oppertunity available in case of AOP and not the way how it has been used or formed
The 2 basic differences between AOP and BOI are:
a) In BOI there are only individuals but in AOP there can be any type of persons.
b) BOI is creation of law whereas AOP can be created by different persons coming together for doing some income producing activity on the voluntary basis.
Agree with Above All
An AOP means a group of persons (whether individuals, HUF, companies, firms, etc.) who join together for common purpose(s). Every combination of person cannot be termed as AOP. It is only when they associate themselves in an income-producing activity then they become AOP. Whereas, BOI means a group of individuals (individual only) who join together for common purpose(s) whether or not to earn income.
In case of BOI, only individuals can be the members, whereas in case of AOP, any person can be its member i.e. entities like Company, Firm etc. can be the member of AOP...
In case of an AOP, members voluntarily get together with a common will for a common intention or purpose, whereas in case of BOI, such common will may or may not be present.
Persons only Include Individuals - for Association of Persons
Body of Individuals - means only individuals
In BOI there are only individuals....
but in AOP there can be any type of persons.
Nice ,
Miss Poonam,u have very nicely cleared the difference between AOP & BOI.
Most of the students remain confused in it even upto their final.
Hi,
One of our Clients has availed the facility in Feb 2011 but Deed of Hypothecation was not filed with ROC till date. Now he is claiming that he will reexecute it again by paying stamp duty applicable in Maharashtra but does not want to go to CLB. is this possible?
If meanwhile somebody elese has filed the charge on the same assets, how will it affect our charge?
Please opine
BODY OF INDIVIDUAL FORM BY LAW.FOR EXAMPLE-MR.X CARRY BUSINESS IF HE DIES THAN HIS TWO SONS CARRY IS BUSINESS THAT'S KNOW BOD.
BUT SOME PEOPLES AGREE TO CARRY BUSINEE AND SHARE PROFIT THAT'S KNOW AOP
Kindly give example of aop and bop
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