FOR 51 LAKHS SALES TURNOVER FOR ETF TRADING, AS MENTIONED IN SUBJECT, TAKEN UNDER SEC44AD AT 6% PROFIT (TO SKIP BOOK KEEPING AND AUDIT ETC.) TRADING PROFIT AT 6% IS AROUND 3.06 LAKHS. SO INCLUDING THIS TOTAL INCOME STANDS AT RS.7 TO 8 LAKHS. AM I GOOD FOR ZERO TAX AS INCOME IS BELOW 12 LAKHS?
IN AIS STATEMENT RS.18+ LAKHS IS GIVEN AS SALES (IN PLACE OF 51L). CAN I USE THIS FIGURE FROM AIS? IS SEC 87 A REBATE APPLICABLE TO ME?

MY CLIENT IS RUNNING A STUDENT HOSTEL AND CHARGE FOR STAY ALON WITH FOOD HIS RECEIPTS ARE MORE THAN 1 CR PLEASE GUIDE US IS GST REGISTRATION IS MANDATORY AND THESE SERVICES ARE EXEMPT FROM GST

PARTNERSHIP FIRM PROCHEM INDUSTRIES PAN ABGFP4817P GST 24ABGFP4817P1ZR APPLIED FOR TAN NO ON 13-04-2026 BUT TAX INVOICE CUM ACKNOWLEDGEMENT RECEIPT 88303951074990 SHOWS ( Category LLP / Firm / Association of Persons / Trust / Body of Individual / Artificial Juridical Person / Hindu Undivided Family ) ( Sub Category Hindu Undivided Family )
Name PROCHEM INDUSTRIES { ACKNOWLEDGEMENT NOT SENT YET TO PUNE ADDRESS BUT IT SHOWS SUB CATEGORY HUF I WANT PARTNERSHIP FIRM TAN NO BUT IT GIVE SAME EVERY TIME WHAT TO DO )

I have observed two contradictory opinions on eligibility to file Form 121 under new IT Act 2025.
1]Mr Ashok Kumar has written to a query that form 121 cannot be filed if the incomtax libility is NIL
2]Today Mr.Dhirajlal Rambhia has informed that to file form 121, tax liability should be zero.

Please clear the confusion if my observation is wrong

M.A.Rasheed

A Private Limited (Closely Held Company) took loan from XYZ bank. Loan is secured by mortgaged assets but even if Bank is demanding personal guarantee of Directors.

Directors and Shareholders are same.

Is personal guarantee of director is compulsory ????

As per Para 11(b) of Accounting Standard-9 on Revenue Recognition issued by ICAI, revenue should be recognised only when there is no significant uncertainty regarding its ultimate collection. In cases where the loanee has defaulted, and the loan has been referred for Revenue Recovery proceedings, the collectability of interest and penal interest becomes uncertain. However, the company has been consistently following the practice of recognising the revenue on those loan accounts which are referred to RR on the pretext that they have sufficient collateral, even when qualified by the CA. No provision has been created for the above-mentioned loan, which is again qualified by the CA. Further, the company is not registered under NBFC, even when the net owned fund exceeds Rs. 10 crore, which is again qualified by CA. Please clarify

HELLO EXPERTS, WE ARE USING TAX INVOICE FOR SALE IN ROUTINE. WE WANT TO PURCHASE FROM UNREGISTERED DEALER. CAN WE USE A SEPARATE PURCHASE INVOICE BOOK TO KEEP UPTODATE INFORMATION AND INVENTORY. OR SUGGEST ANY SUITABLE MODE FOR URD PURCHASE. OPINIONS ARE AWAITED

hiii !!! filing of form 121 under new income tax act 2025( form 15G & 15H under old regime)

case 1: my interest and dividend income in total is 5,00,000

case 2 : my rent income is 3,50,000 and interest income is 7,50,000

case 3: my salary is 7,00,000 and interest income is 3,00,000

explain form 121 under new income tax act 2025, on above three cases and explain that we have to considered basic exemption limit or final tax liability shall be nil( case covered under rebate also )

This is https://gedexamhelp.us.com/ help for students in US.

Dear Sir,

In previous year depreciation calculation understated in company's books over sightly as per company act, now can i reverse the difference amount in current financial year and does it affect any financial loss to the company.

Thanks and Regards