which company pays Dividend distribution tax and company why deduct TDS on dividend distributed amount.

As per latest tax audit guidelines published by ICAI in 2022 and applicable for AY 2023-24, the calculations of F&O turnover are clear. There is no separate exceptions in guidelines for currency F&O trade.

In most of examples given at various platforms and websites ,the illustrations on based with stocks F&O. And could not find specific reply of currency F&O trade. It creates question of what about Currency F&O trade.

1. Is that also covered under similar method of calculations for arriving at turnover amount ?
OR
2. . Does it need to add full value of trade instead of absolute P&L figures. ??

3. Is there any exception / separate guidelines for currency trade turnover amount calculations>>>..

Please guide on this issue.

Profits that have not been distributed to shareholders as dividends but that are retained and used in the company's activity . They form part of the shareholders' funds of a company.
Is shareholders funds distributed after Corporate tax and or any other tax.

Hi Friends,
A company has an accumulated losses of about 100 lacs carried forward since many years.
Last few year 2021-22 the company had a book profit on which it has paid Tax under MAT
in 2022-23 it has a net profit of Rs 90 lacs because of booking the income against an advance lying in the books. The Management thinks since it has already an accmulamated losses so it shouldn't be paying the tax for FY 2022-23 as they are not aware of MAT provisions.

I am seeking an expert view to answer of the following questions(as the actual working may vary when computed after tax audit).

1. Is the company eligible to set off b/f losses in this case in a scenario when its boo profit is higher than the profit computed as per Income tax act or visa versa (i.e when actual tax as per IT act is higher than Book Profit/MAT)
2. If the company is still liable to pay the MAT in this case what benefit it is getting having an accumulated losses brought forward.

Please provide your views.

Thanks
P C Joshi

In Schedule VIA, deduction u/s 80U for self with severe disability cannot be more than the maximum limit of Rs.1,25,000,MESSAGE SHOWING IN ITR 3,AND NOT FILING RETURN.

In the charge form, Bank is a charge holder and the mail id of bank's manager is being written in the form and then digital sign is used of another employee/manager in the said form, thus it is valid or not ??

I guess this will not impact in form filing??
what are your views??

Tds @ 5% was deducted u/s 194DA of the Income-tax Act on Rs.14.00 lakhs for the reason Maturity value 3 years period of Money Back policy SBI Life Insurance Co Ltd during the year 2022-23. In this regard clarify the details whether the amount received Rs.14.00 lakhs to be offered as Income or exempted?

Dear Sir,
A contractor has shown turnover in fy 2021-22 on billing basis in his gst returns and filed his IT return accordingly, whereas contractee department has shown this turnover in fy 2022-23 on payment basisin fy 2022-23, therefore reflecting in 26as of fy 2022-23.
How to deal while filing itr for fy 2022-23?

WHETHER A COMPANY SHOULD FILE FORM 15CA DURING REIMBURSEMENT FOR PAYMENTS MADE BY INDIVIDUAL TO BUY SUBSCRIPTION PLAN OF FOREIGN EMAILING TOOLS WHICH HAS PROVIDED W9 AND NO RESIDENCY CERTIFICATE OF INDIA AND FORM 10F. AND WHEN SHOULD IT FILE FORM 15CA WHEN THE PAYMENT HAS BEEN MADE BY THE EMPLOYEE TO THE FOREIGN COMPANY VIA CREDIT CARD OR WHILE MAKING REIMBURSEMENT TO THE EMPLOYEE.

Respected Sir,

in itr page where should I show (Outward foreign remittance/purchase of foreign currency)

money send for son's education and accommodation in UK

It is also reflect in TIS