Under section 123(1) 4 proviso it States that company shall not declare dividend if the carried over losses and depreciation has been set off with the profit of the current year ok
So i want to ask that it states against profit of current year ok now if I don't have profit in current year and i am declaring dividend as per 3 proviso read with rule3 which provides for set off that year loss not depreciation in which dividend is declared not the previous year depreciation and losses so if I declare dividend as per 3 proviso did I have to setoff previous years losses or depreciation kindly express your suggestion and views.

Can a private limited company have to file ADT-1 every year, even for ratification also?? If I file ADT-1 last year then can I have to file this year also ??

I have a query regarding Section 44AD.
Can we have more than one business for a single assessee, under the presumptive taxation u/s 44AD, where the turnover under each business is below Rs 2 Crores. For Example, Mr X has two businesses, one is trading of goods and another is consulting (not falling under the definition of professional). Trading business has turnover of Rs 1.90 crores and consulting business has turnover of Rs 1.75 Crores. Can he treat each business independently for the purpose of section 44AD and declare the taxable income as 8% or 6% under each business, although the combined turnover is more than Rs 2 Crores.
The relevant section reads as under:
Notwithstanding anything to the contrary contained in sections 28 to 43C, in the case of an eligible assessee engaged in an eligible business, a sum equal to eight per cent of the total turnover or gross receipts of the assessee in the previous year on account of such business or, as the case may be, a sum higher than the aforesaid sum claimed to have been earned by the eligible assessee, shall be deemed to be the profits and gains of such business chargeable to tax under the head "Profits and gains of business or profession"
Whereas, they have defined the key terms of eligible assessee and eligible business as follows:

"eligible assessee" means,—
(i) an individual, Hindu undivided family or a partnership firm, who is a resident, but not a limited liability partnership firm as defined under clause (n) of sub-section (1) of section 2 of the Limited Liability Partnership Act, 2008 (6 of 2009); and
(ii) who has not claimed deduction under any of the sections 10A, 10AA, 10B, 10BA or deduction under any provisions of Chapter VIA under the heading "C. - Deductions in respect of certain incomes" in the relevant assessment year;
(b) "eligible business" means,—
(i) any business except the business of plying, hiring or leasing goods carriages referred to in section 44AE; and
(ii) whose total turnover or gross receipts in the previous year does not exceed an amount of [two crore rupees]

Please reply. Thanks

SUPPLY ARISED OUT OF MUTUAL CONTRIBUTION OF VOLUNTARY ORGANISATIONS. UNDER WHICH COLUMN THIS AMOUNT CLAIMED AS EXEMPTION IN ITR-5 OR ITR- 7.

Suppose a website offers English learning classes. Teachers sign up on the website and offer their classes and students join their classes. Teachers set the schedules and class duration and other matters. Students pay fees on the website and at the end of the month, the website pays the fees to the teachers, after deducting commission. Questions are :

1) What is the revenue that is to be reported by the website? The total fees or only the commission ?

2) Are teachers contractors under IT and if so, is TDS to be deducted on monthly payments to teachers ?

Do let me know your thoughts on these. Appreciate your time and help. Thank you very much.

I want to file an appeal against the order of CIT Exemptions, agsinst the order of rejection of application for 12A registration for the year 2019-20. But Form 36 is not appearing in the new IT portal. Can the experts guide me regarding the procedure to be followed in a situation like this.

Sir,
In the budget 2022, it was held that the cess is not an allowable expenditure with retrospective effect.we have filed returns claiming such cess for AY 2020-21 and AY 2021-22 too.
Can you kindly suggest what will be the possible course of action to be taken in this regard. Can we file revised for the AY 2021-22 or is there any chance that those returns will get processed as few of the returns for AY 2020-21 were already processed.

I am a salaried person and have 2 housing properties in Pune City.
Both Properties are purchased by me (not gifted or not from ancestors) . One property is rented while the other is self occupied .
I need to pay huge tax on rent income received from the flat . One of my friend suggest me that apply for HUF PAN card ( as I am married and having son ) and Bank account against HUF PAN card. Tenant will pay rent in HUF bank account and also he will declare my HUF PAN card number while filling his ITR . Also he suggest to file separate ITR for HFU PAN card.
I just want your guidance if this help me for save Tax? Is this information correct ?

Hi experts


i have one Quary Related EPFO so actually we are started new company before we already have another with same management company so right now we will decide the old EPFO Company can merge the new Epfo account so how can I proceed for this give me solutions

what are difference among.
Fee,
Penalty,
Other
please reply