FULL FORM OF AOP

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         AOP stand for Association of person. The Indian Income Tax Act,1961  defines AOP  as an integration of person for a mutual benefit or for a common purpose. A person in AOP could be a company or an individual person. The term person could include any association,body of individual or company,irrespective of whether it is incorporated or not. AOP  has a legal meaning and it represent a unit having duties and rights. AOP could include legal entities.
       An AOP implies a combination of persons which does not mean that any combination or group of persons will be considered as AOP. An AOP will be considered only when a group of individuals associate themselves with any income producing activity then they can be called an AOP. 

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