I am having an LLP Incoroprated on 26-06-2019 , there was no Business activity for since 04-March-2025 , current FY 2025-26 there is no activity. But we had paid LLP Filling Fees of Rs 50 on 09-09-2025 for Filling Form 8.
Current Senario :
1. All LLP Forms 8 & 11 are filled till FY 2024-25
2. All ITR Filed till FY 2024-25 (ITR also processed with 0 payment Due)
3. We have an Active Bank Account (Durring FY 2024-25 we had done only 2 Transactions for making statutory filing fees on MCA Rs 50/- for Filling Form 8 & 11

Can you please guide
1. Can i close my LLP by Filling Form 24 ?
2. When Should I File the form?
3. From Which date will my inactive period calculated ?
4. Do payment of Goverment Fees like MCA Filling Fees consider as Business Activity will this effect the Inactive period

Can you please share reference of Professional who can help me carrying out Closure of LLP.

Thank you in Advance

Hello,

I am seeking an expert opinion on whether it makes financial sense to continue holding or exit a minority stake in a warehouse business. Key details below:

- Business: Warehouse / cold storage (partnership firm)
- Ownership: 12.5% minority stake
- Project start: Feb 2022
- Private capital invested: ₹1 Cr (borrowed at 18% p.a.)
- No private repayment so far due to bank loan priority
- Effective private debt today: ~₹1.72 Cr
- Expected private debt when repayment starts (~2 years): ~₹2.05+ Cr

Best operating year (FY 2024–25):

- Revenue: ~₹2.05 Cr
- Operating surplus before loans: ~₹1.26 Cr
- Bank loan repayment: ~₹1.0 Cr/year
- Free cash (entire business): ~₹25–27 L/year
- Cash to us (12.5%): ~₹3–4 L/year
- Expected post–bank-loan cash to us: ~₹15–16 L/year

Additional context

- Major commodity stored: mirchi
- Revenue depends heavily on rotation; low prices have capped growth
- Land value has appreciated from ~₹1.0 Cr to ~₹1.7 Cr

Questions

1. Does holding make sense long term given 18% private capital and minority ownership?
2. Since this is a partnership firm, can any business loss or depreciation be used to offset personal salary income?
3. Does refinancing the 18% loan make sense? If so, what realistic interest rates are currently achievable (secured / LAP / business loan)?
4. Is an exit valuation of ~₹1.8–2.0 Cr reasonable for a strategic buyer increasing control?

Looking for a candid, numbers-based opinion.
Happy to share detailed workings if required.

Dear Sir/Madam,

We seek your professional opinion regarding the applicability of TDS under Section 195 of the Income-tax Act, 1961, on payments made to Adobe Systems Software Ireland Limited towards Adobe subscription charges.

1- Background of the transaction:
Payments have been made for Adobe software subscriptions.
The payments were routed through credit card / online payment gateway.
Adobe Systems Software Ireland Limited has provided the following documents:
No Permanent Establishment (PE) declaration in India
Form 10F
2- Clarifications received from Adobe:
Payments made via credit card fall under the proviso to Section 194Q and relevant CBDT clarifications.
TDS obligation does not apply where:
a) Payment is made through credit cards, debit cards, or similar electronic modes; and
b) The bank / payment gateway acts as an intermediary for the transaction.
The responsibility for tax collection does not shift to Adobe in such cases.

3- Our queries for your expert advice:
Whether TDS is applicable under Section 195 on the above payments made to Adobe Systems Software Ireland Limited?
If TDS is applicable, please advise:
The nature of income (royalty / FTS / other),
The applicable rate of TDS, and
Whether DTAA provisions between India–Ireland can be applied in this case.
Whether payment through a credit card/payment gateway alters the TDS obligation under Section 195.

Your guidance on the above will help us ensure correct tax compliance.

Thanking you in advance.
Warm regards,

Respected Sir/Madam,
We have only 15G/15H challans in this quarter and no other TDS payments, we have already submiitted form 15G/15H on 15th jan 2026 but while filing TDS Return it ask for challan payments which we don`t have

How to file this return

Please reply

Regards

Tribhuvan

for FY 24-25 AY 25-26 The assessee is in Goa and while filing his return of income everything was shown between him and spouse at 50%.
only prepaid taxes were different and accordingly refund asked was for different amounts
There was business loss to be set off against income from other sources.
In wife case As per intimation received u/s 143(1) business loss was adjusted against income from other sources
However in husband case as per intimation u/s 143(1) business loss is not adjusted against income from other sources resulting in demand
rectification request was filed u/s 154 but in the order again the benefit of business loss is not given and demand is confirmed
My question is
what can be done in above case so that business loss is adjusted against other income like already given in wife case ?

Dear Professional friends very good morning.
my client who is now in UAE N Visited july 30th 2025 india and returned to dubai by august 21st 2025 now willing to sale a property in bangalore apprx 1.5cr, which the same bought for apprx 1cr as on 2022 coctber. so kindly share me tds applicability for NRI and other capital gain provisions In brief and value of capital gain in a nominal values. which section 194 or 195 of incometax act will be applicable for tds. kindly support us they are in dubai and not known provisions of these tax and statutory implications. thank you in advance for your utmost support and time spent for our querry.

A person having rent a car business. Customer takes car on rent on daily basis, customer itself fills fuels & customer itself drives a car. It’s a self driven car. Is this service chargeable to GST 18% with ITC only or supplier has option to pay GST 5% without ITC ?

Sir,

A pvt ltd company no expenses and no incomes ,share capital was introduced and later the director withdraw amount from bank.so the situation is

trial balance
share capital 10 lakh credit
Director Loan 9.65 lakh debit
how to show this director loan in books as it is debit balance and if small company has any exemption to 185 AND 186,also how to report in audit report.The company has neither accepted any borrowings nor any payments.pls help

Dear Sir/Ma'am,
This query is pertaining to AY 2024-25.
I had filed the return u/s139(1) under old regime where I had claimed 100% deduction for donation made to "The National Trust for Welfare of Persons with Autism, Cerebral Palsy, Mental Retardation and Multiple Disabilities constituted under sub-section (1) of section 3 of the National Trust for Welfare of Persons with Autism, Cerebral Palsy, Mental Retardation and Multiple Disabilities Act, 1999". However, few days ago I have received an SMS alert from the income tax department saying that "Our records show that you claimed charitable/relief fund donation deductions in your AY 2024-25 ITR. However, based on the PAN you provided, the organisation you donated to may not be eligible for the deduction you claimed.

You need to update your ITR to either add the correct PAN or remove the deduction. To do this,visit https://www.incometax.gov.in. Once logged in, navigate to “e-File” → “File Income Tax Return → “Select Assessment Year” → “Select Filing Type” → choose “139(8A) - Updated Return” → “ Select ITR Type” → “Continue” and update section 80G/80GGC".
As per the provisions of section 80G, donation to the above entity is eligible for 100% deduction.
Now I am getting a tax payable along with interest u/234A, 234B and 234C to pay the tax on this donation amount.
Can anyone please guide me how to resolve this query.
Also is there any way in which I can verify the PAN of the Donee Entity.

I am a wholesaler of Raw Tobacco. What is the implication of the new notification no. 19/2025 dated 31/12/2025.
how to raise an invoice and how to show the excise?? Weather I have to apply for excise registration?