SIR, our client is carrying business It is a ASSOciation of
individuals.Can you say whether it is a AOP or BOI.my doubt
is that AoP includes persons for a common purpose But
according to I>T act PERSON includes individuals also
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Answer / Gaurav Jeet
In the context of I>T act, an Association of Persons (AoP) refers to a group of seven or more persons associated for carrying on a business with a common purpose. Since a group consisting of individuals fulfills this condition, it can be considered as an AOP.
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