Disclaimer: The content on this page is only to give an overview / general guidance and is not exhaustive. For complete details and guidelines, please refer Income Tax Act, Rules and Notifications.
An Association of Persons (AOP) or a Body of Individuals (BOI), whether incorporated 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.
Artificial Juridical Person - If an Assessee does not fall under any of the other categories that are included in the definition of Person then it is regarded as an Artificial Juridical Person. These entities are not natural persons but separate entities as per law.
This form can be used by a Person being a:
Note: However, a person who is required to file the Return of Income u/s 139(4A) or 139(4B) or 139(4D) shall not use this form.
Applicable for Persons including Companies who are required to furnish return u/s 139(4A) or Section 139(4B) or Section 139(4C) or Section 139(4D)
| 139(4A) – Income derived from Property held under Trust wholly / in part for charitable or religious purposes | 139(4B) – Chief Executive Officer of every Political Party | 139(4C) – Various entities like Research Association, News Agency, etc. mentioned in Section 10 | 139(4D) – University, College or other Institution referred in Section 35 |
Note: The category of persons whose income is unconditionally exempt under various clauses of Section 10, and who are not mandatorily required to furnish their Return of Income under the provisions of Section 139, may use this form for filing return (for instance - Local Authority).
Income Tax Department (It is available on e-Filing Portal:
Login > e-File > Income Tax Return > View form 26AS)
Note: Information (Advance tax/SAT, Details of refund, SFT Transaction, TDS u/s 194 IA, 194 IB,194M, TDS defaults) which were available in 26AS , will now be available in AIS mentioned below.
Income Tax Department (It can be accessed after logging on to Income Tax e-Filing portal)
Pa th to Access AIS: Go to e-filing portal>login>AIS
Report of Audit of Accounts and Statement of Particulars required to be furnished u/s 44AB of the Income Tax Act, 1961
Report of Audit of Accounts and Statement of Particulars required to be furnished u/s 44AB of the Income Tax Act, 1961
| Submitted by | Details provided in the form |
| Taxpayer who is required to obtain a report from an Accountant u/s 12A(1)(b) of the Income Tax Act, 1961, in the case of charitable or religious trusts or institutions | Audit Report U/S 12A (1) (b) of the Income Tax Act, 1961, in the case of charitable or religious trusts or institutions is to be filed 1 month before the due date for filing ITR u/s 139(1) |
| Submitted by | Details provided in the form |
| Taxpayer who is required to obtain report from an Accountant u/s 10(23C) of the Income Tax Act, 1961 | Audit Report u/s 10(23C) of the Income Tax Act, 1961, in case of any fund or trust or institution or any university or other educational institution or any hospital or other medical institution referred to in sub-clause (iv) or sub-clause (v) or sub-clause (vi) or sub-clause (via) of Section 10(23C) is to be filed 1 month before the due date for filing ITR u/s 139(1) |
Statement furnished towards accumulation or setting apart of income by a charitable or religious trust or institution or association towards specific purpose. To be furnished atleast two months prior to the due date for furnishing of return specified under section 139(1).
| Submitted by | Details provided in the form |
| Charitable or religious Trust or institution or association or company | Application for registration or provisional registration or intimation or approval or provisional approval of charitable or religious trust or institution or association |
| Submitted by | Details provided in the form |
| Charitable or religious Trust | Statement towards particulars of donation received for a particular FY. To be furnished on or before 31st May of the FY immediately following the FY in which the donation is received |
| Submitted by | Details provided in the form |
| Charitable or religious trust | Application furnished for exercise of option under clause (2) of explanation to Section 11(1) where application of income falls short of 85% due to non-receipt and needs to be applied during the previous year in which it is received. The form shall be furnished before the expiry of time allowed u/s 139(1) for furnishing the return of income of the relevant Assessment Year. |
| Provided by | Details provided in the form |
| Deductor to Deductee | Form 16A is a Tax Deducted at Source (TDS) Certificate issued quarterly that captures the amount of TDS, Nature of Payments and the TDS payments deposited with the Income Tax Department |
Tax rates of AOP / BOI / AJP are given below, however they are subject to further conditions described later.
Note: Trusts which are not exempt from taxation as per relevant provisions and require approvals / registrations under the Income Tax Act, are assessed as AOP.
The Finance Act 2023 has amended the provisions of Section 115BAC w.e.f AY 2024-25 to make new tax regime the default tax regime for the assessee being an Individual, HUF, AOP (not being co-operative societies), BOI or Artificial Juridical Person. However, the eligible taxpayers have the option to opt out of new tax regime and choose to be taxed under old tax regime. The old tax regime refers to the system of income tax calculation and slabs that existed before the introduction of the new tax regime. In the old tax regime, taxpayers have the option to claim various tax deductions and exemptions.
In case of "non-business cases", option to choose the regime can be exercised every year directly in the ITR to be filed on or before the due date specified under section 139(1).
In case of eligible taxpayers having income from business and profession and wants to opt out of new tax regime, the assessee would be required to furnish Form-10-IEA on or before the due date u/s 139(1) for furnishing the return of income. Also, for the purpose of withdrawal of such option i.e. opting out of old tax regime shall also be done by way of furnishing Form No.10-IEA.
However, in case of eligible taxpayers having income from business and profession option to switch to old tax regime and withdraw the option in any subsequent AY is available only once in lifetime.
Tax Rates under the two regimes for AOP (not being co-operative societies), BOI and Artificial Juridical Person are placed below:
| Old Tax Regime | New Tax Regime u/s 115BAC | ||
|---|---|---|---|
| Income Tax Slab | Income Tax Rate | Income Tax Slab | Income Tax Rate |
| Up to ₹ 2,50,000 | Nil | Up to ₹ 3,00,000 | Nil |
| ₹ 2,50,001 - ₹ 5,00,000 | 5% above ₹ 2,50,000 | ₹ 3,00,001 - ₹ 6,00,000 | 5% above ₹ 3,00,000 |
| ₹ 5,00,001 - ₹ 10,00,000 | ₹ 12,500 + 20% above ₹ 5,00,000 | ₹ 6,00,001 - ₹ 9,00,000 | ₹ 15,000 + 10% above ₹ 6,00,000 |
| Above ₹ 10,00,000 | ₹ 1,12,500 + 30% above ₹ 10,00,000 | ₹ 9,00,001 - ₹ 12,00,000 | ₹ 45,000 + 15% above ₹ 9,00,000 |
| ₹ 12,00,001 - ₹ 15,00,000 | ₹ 90,000 + 20% above ₹ 12,00,000 | ||
| Above ₹ 15,00,000 | ₹ 1,50,000 + 30% above ₹ 15,00,000 | ||
Tax liability of AOP / BOI depends on whether or not share of members of AOP / BOI are known. Accordingly, further applicable conditions are as follows:
Where income of none of the members exceeds the maximum amount, which is not chargeable to income tax (i.e., basic exemption limit), income of AOP / BOI shall be taxable at a rate applicable to an individual.
Income of AOP is assessed at Maximum Marginal Rate where income of any member of AOP / BOI exceeds the maximum amount which is not chargeable to income tax (i.e., basic exemption limit).
But if total income of any member of AOP / BOI is taxable at a rate higher than Maximum Marginal Rate, then income of AOP / BOI shall be chargeable to tax as follows:
Surcharge, Marginal Relief and Health and Education cess
Surcharge is an additional charge levied for persons earning Income above the specified limits, it is charged on the amount of income tax calculated as per applicable rates. The rates of Surcharge under the two tax regimes are as under:
| Total Income | Old Tax Regime | New Tax Regime |
| Rate of Surcharge Applicable | ||
| Up to Rs. 50 Lakh | Nil | Nil |
| Above Rs. 50 Lakh and up to Rs. 1 Crore | 10% | 10% |
| Above Rs. 1 Crore and up to Rs. 2 Crore | 15% | 15% |
| Above Rs. 2 Crore and up to Rs. 5 Crore | 25% | 25% |
| Above Rs. 5 Crore | 37% | 25% |
Note: The enhanced surcharge of 25% & 37%, as the case may be, is not levied, from income chargeable to tax under sections 111A, 112, 112A and Dividend Income. Hence, the maximum rate of surcharge on tax payable on such incomes shall be 15%, except when the income is taxable under section 115A, 115AB, 115AC, 115ACA and 115E.
In case of an association of persons consisting of only companies as its members, the rate of surcharge on the amount of Income-tax shall be maximum 15% (applicable w.e.f AY 2023-24).
The rate of Health & Education cess remains same in both the regimes.
Note: An AOP / BOI who’s adjusted total income exceeds ₹ 20 lakh shall be liable to pay Alternate Minimum Tax (AMT) at 18.5% of adjusted total income (plus surcharge and Health and Education cess as applicable), where the normal tax liability is less than 18.5% of adjusted total income.
Tax deductions specified under Chapter VI-A of the Income Tax Act.
Deduction towards Donations made to certain funds, charitable institutions, etc.
Donation are eligible for deduction under the below categories:
| 100% deduction |
| 50% deduction |
| 100% deduction |
| 50% deduction |
Note: No deduction shall be allowed under this section in respect of donation made in cash exceeding ₹ 2000/-.
Deduction in respect of certain donations for Scientific Research or Rural Development.
Donation are eligible for deduction under the below categories:
Note: No deduction shall be allowed under this section in respect of donation made in cash exceeding ₹ 2000/- or if Gross Total Income includes income from Profit / Gains of Business / Profession.
Sum contributed to Political Party or Electoral Trust is allowed as deduction
(subject to certain conditions)
| Deduction of total amount paid through any mode other than cash |
Undertaking engaged in Developing, Maintaining and Operating any Infrastructure Facility (only Indian Company), industrial parks (any Undertaking), any Power Undertaking, Reconstruction or Revival of Power Generating Plants (Indian Company) shall be entitled to claim deduction
(subject to certain conditions)
| 100% of profit for 10 consecutive AY falling within a period of 15 / 20 AY beginning with the AY in which Assessee develops / begins operating and maintaining infrastructure facility |
| (No deduction shall be allowed if development, operation, etc. started after specified dates for specified business) |
Deduction in respect of Profits and Gains by an Undertaking or an Enterprise engaged in development of Special Economic Zone
(subject to certain conditions)
| 100% of profit for 10 consecutive AY out of 15 AY beginning from the year in which a Special Economic Zone has been notified by the Central Government |
| No deduction to an Assessee, where the development of Special Economic Zone begins on or after 1st April 2017 |
Deduction towards Profits and Gains from specified business.
The deduction under this section is available to an Assessee whose Gross Total Income includes any Profits and Gains derived from the business of:
| Industrial Undertaking including an SSI in J&K |
| Commercial Production and Refining of Mineral Oil |
| Processing, Preservation and Packaging of Fruits or Vegetables, Meat and Meat Products or Poultry or Marine or Dairy Products; Integrated Business of Handling, Storage and Transportation of Food Grains; |
| (subject to certain conditions) |
100% / 25% of profit for 5 / 10 / 7 years as per conditions specified for different types of undertakings
| 100% of profit subject to various conditions specified |
Deduction in respect of certain Undertakings in Himachal Pradesh, Sikkim, Uttaranchal and North-Eastern states
(subject to certain conditions)
| 100% of profits for first 5 AY and 25% (30% for a company) for next 5 AY to manufacture or produce specified article or thing |
Deduction to certain Undertakings set up in North- Eastern states
(subject to certain conditions)
| 100% of profits for 10 AY subject to various conditions specified |
Deduction in respect of Profits and Gains from Business of Collecting and Processing of Biodegradable Waste
(subject to certain conditions)
| 100% of profits for 5 AY where the Gross Total Income of an Assessee includes any Profits and Gains derived from the Business of Collecting and Processing or treating of Biodegradable Waste |
Deduction in respect of Employment of New Workers / Employees, applicable to Assessee to whom Section 44AB applies
(subject to certain conditions)
| 30% of additional employee cost for 3 AY, subject to certain conditions |
Deduction for Income of Offshore Banking Units and International Financial Services Centre
(subject to certain conditions)
| 100% of specified income for 5 consecutive AYs, as per specified conditions |