Sir,
Any it individual business persons (sec 44ad)and professional tax payers(sec 44ada) itr returns filed persons f.y.25-26 new income tax act 2025 advantages and disadvantages it purpose

1.
Whether a proprietorship concern having turnover in the range of ₹1 crore to ₹2 crore, and subject to tax audit under Section 44AB, would be included within the overall ceiling of 60 tax audit assignments that may be undertaken/signed by a Chartered Accountant, as prescribed by the Institute of Chartered Accountants of India (ICAI).
2.
In the case of a proprietorship concern with turnover of ₹1.5 crore, where the entire receipts are in cash, whether the assessee can opt for presumptive taxation under Section 44AD by declaring income at 8% (i.e., ₹12 lakh), and consequently claim that no tax liability arises on the basis that income up to ₹12 lakh is not taxable for the relevant financial year.
3.
In the case of a proprietorship concern having turnover of ₹1.9 crore, whether it is permissible to declare income at 6% (i.e., ₹11.40 lakh) under Section 44AD, and similarly contend that no tax liability would arise on the assumption that income up to ₹12 lakh is exempt from tax.

HI
I would like clarification regarding TDS on rent payments for Financial Year 2026–27:

Under which section is TDS applicable on rent paid to a resident landlord and what is TDS rate?
Under which section is TDS applicable on rent paid to an NRI landlord?
What are the applicable TDS rates and compliance requirements in both cases?

A senior whose total income Rs.1000000 . His tax liability under income tax act after rebate for the financial year 2026-27 is NIL. Is he eligbile to file Form 121

If the tax demand has already been paid through DRC-03, do I need to pay 10% pre-deposit on interest and penalty for filing a GST appeal?

Hi,

I have a minor daughter and I want to open a PPF account for her. I am also investing 1.5L in my own PPF. As I understand, the annual limit of my and my daughter's PPF will be 1.5L.
1. The lock in of 15 years is calculated from the day of opening of minor PPF or from the date she turns major.
2. If I deposit say 10,000 per year in the minor's PPF above the 1.5L in my own PPF, then will the account be deactivated or only savings interest will be given on that.

Thanks

forgot my password. e-mail:tkd_kol@yahoo.co.in

Whether the appeal filed before CIT (A) in Form 35 on 01/04/2026 would be treated as a valid one. Or should I file fresh appeal in form-99?

1. Can a LO of a Foreign Company adopt a Calendar Year without approval of RD.
2. MCA V3 portal does not allow a FCRN of a LO to post RD1 on the Portal. (is that correct)
3. FC4 of with a calendar year has been accepted and approved by the MCA, can this be relied upon as acceptance of calendar year by the LO.
4.RD is refusing physical submission of RD1 for a LO.
5. Can we say that since a foreign company is governed by Chapter XX11 and under section 381 a foreign Company must file its financial statements within 6 months of the end of the financial year to which it relates, suggests that a foreign company is allowed to follow a financial year different from what is provided in section 2 (41) that is a April to March year

INCASE OF LTCG ARISES ON SALE OF IMMOVABLE PROPERTY. IF TOTAL SALE CONSIIDERATION EXCEEDS 50 LACS THAN 1% TDS IS APPLICABLE. BUT IN CASE OF PROEPERTY OWNED BY MORE THAN 1 PERSON i.e. CO OWNERS ARE THEIR THAN INDIVIDUAL SHARES IS LESS THAN 50 LAC THAN 1% TDS IS DEDUCTABLE??