Hello, came across this account on MINT
Is Dhan introduce this ?
Please throw some light if anybody has opened this. Will this be like a corporate account ?
Definition of AoP:
An Association of Persons (AOP) or a Body of Individuals (BOI), whether incorporated or not is treated as a person u/s 2(31) of the Income Tax Act, 1961. It is important to note that an AOP or BOI shall be deemed to be a person, whether or not, it was formed or established or incorporated with the object of deriving income, profits or gains.
Trust created wholly for charitable or religious purposes are allowed various benefits under the Income Tax Act, inter-alia, exemption u/s 11.
More on this on the Income Tax website: Association of Persons (AOP) / Body of Individuals (BOI) / Trust / Artificial Juridical Person (AJP) for AY 2025-26 | Income Tax Department
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