Wondering what "AOP" (Association of Persons) means? This short reference explains it in plain terms.
An AOP is a group of persons who come together for a common purpose to earn income, treated as a separate taxable entity.
What is AOP?
An AOP is a group of persons who come together for a common purpose to earn income, treated as a separate taxable entity.
| Full form | Association of Persons |
|---|
Where it is used
- Taxation of joint ventures
- Certain collective bodies
Why AOP matters
AOP shows up in real filings, forms and transactions, so knowing what it means helps you complete them correctly and avoid errors, rejections or penalties. When in doubt about how AOP applies to you, confirm on the official portal or with a qualified professional before filing.
Frequently asked questions
What is the full form of AOP?
AOP stands for Association of Persons.
What is AOP used for?
Taxation of joint ventures; Certain collective bodies.