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A BOI (Body of individuals) is similar to an AOP and is also a group of people who come together to earn a certain income. For example, two people can get together and do something to earn some money
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An Association of Persons (AOP) and a Body of Individuals (BOI) convey two different arrangements of people. The fact that both of these expressions at times are used interchangeably doesn’t justify the restrictive interpretation. We need to stop interchanging the usage of these words as they represent two different compositions.
The Indian Income Tax Act, 1961, defines AOP (Association of Persons) as an integration of persons for a mutual benefit or a common purpose. On the other hand, BOI (Body of individuals) is similar to an AOP and is also an accumulation of individuals who have come together with an objective of earning some income. However, there are certain differences between an Association of Persons and Body of Individuals
. A person in AOP could be a company or an individual person. The term person could include any association, body of individuals or company, irrespective of whether it is incorporated or not. However, in a BOI, only individuals can join with the intention of earning some income. Hence we can say, BOI only comprises of individuals, whereas an AOP could include legal entities.
In a nutshell, it could be said that an AOP (association of persons) has a legal meaning and it represents a unit having duties and rights. For instance, if a group of people are travelling in a train, or waiting for a bus at the bus stop, they might be a group of people or in the literal sense a “body of individuals”. However, they’re not an AOP (association of persons) in a legal sense.
Moreover, an AOP implies a combination of persons which doesn’t mean that any combination or group of persons is an AOP. It’s only when these individuals associate themselves with any income-producing activity they can be called an AOP.
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Miss Manisha Katariya , the Team Leader of the Company, Post-graduated with a Master of Business Adminstration degree from AKTU (LUCKNOW). Miss, Manisha Katariya has nearly 7 Years of experience in the Sales & Finance sector. She heads the marketing and commercial relationship management departments of the Company.Their main duties include hiring and training employees, creating and implementing business strategies and delegating tasks to team members.
Mrs Priyanka Singh Chauhan Senior Associate of the company, Post graduated in Banking & Finance Management from NMIMS University , Surat Gujarat , Mrs. Chauhan has nearly 6 years experience in the finance and banking operations sector .
Miss Manali Sumrani Senior Associate of the company, Post graduated in Master of Business Adminstration in DRBAU University, Agra. Miss Manali Sumrani has nearly 5 years experience in the finance sector .
Miss. Twinkle Agarwal , the Consultant of the Company. She help their clients achieve their business goals by providing expert advice in their field of proficiency. She work with their clients and advise them on matters such as accounting and Legal Services.
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Mr Mohan Sharma Advisor of the company, Graduated with Bachelor of Computer Application Degree from DBRAU Agra.He meet with clients to gain a sense of their mindset and ultimate goals. He draw from their experience, expertise, and perspective to help clients shape their goals and craft purposeful next steps.
Miss Kareena Varlani Associate of the company, Graduated with Bachelor of Commerce Degree from Dayal bagh University Agra.She work in collaboration with others to complete daily tasks and offer support to their team.
