Thanks Aces i have change the permalinks but still its not working.. I think i am missing something at the time of installation .
@kosarr it could be any number of a hundred things and without more information about your server etc, we can only guess.
Anyways, have you tried this? http://www.404-error.org/buddypress-404-file-not-found-fix/
Once again thanks to Mr Aces, i resolve the problem.. it was the problem of permalinks resolved after changing the log file of apache 
Chirs it was the problem of WAMP server that was resolved after httpd.config edit
hi guys.. just installed buddypress to this new site am building, http://gospelcast.org but i can’t seem to get the “groups” page and profiles running. when i click on the nav menu tab, it gives an error message. when i look through profiles, there seems to be no way one can create groups. what must i do then? on the right sidebar, the “create a new account” link doesnt work, it only gives error message. same is true when one uses the sign in link near the header. i also wonder how a user starts making/posting blogs after making an account. I already set new users to be “authors”, but when i look from the profiles, there is no button or link there that i can find where one clicks to start making/posting a blog. please help me on these concerns. thanks. try visiting my new site (empty) to see how these concerns appear.
@gospelcast this topic has been marked as resolved. Please start a new topic for your issue. Include the info you posted above as well as: WP/BP versions, Linux or Windows hosting; single WP or WP multisite installation; theme used, and whether you went to Settings > Permalinks and set it to other than default and saved; etc.
