What are the good ways to fill out 1120 form if my business is inactive?

While you might not have been active throughout the year, by filing a no activity return you may be throwing away potential deductions! Most businesses (even unprofitable ones) will have some form of expenses – think tax prep fees, taxes, filing fees, home office, phone, etc. Don’t miss out on your chance to preserve these valuable deductions. You can carry these forward to more profitable years by using the Net Operating Loss Carry-forward rules. But you must report them to take advantage of this break. If you honestly did not have any expenses or income during the tax year, simply file form 1120 by the due date (no later than 2 and one half months after the close of the business tax year – March 15 for calendar year businesses). Complete sections A-E on the front page of the return and make sure you sign the bottom – that’s it!

Do I need to fill out Form 112 for a CA Articleship if I have already done B.Com. and CS before starting the CA Articleship?

No, u only need to fill form 112 if you are doing any other course while doing CA.As ur bcom n CS is completed , u need not fill form 112.

Do I need to fill out Form 112 of the CA articleship if I had completed BCom’s final year (regular) and only the exams are left?

I am editing this answer because of what I faced recently.I had not filled this form during articleship since nobody ever advised me and I didn’t feel the requirement of doing so as I was doing my BCom from distance education.While applying for membership you will face problem if you haven’t taken permission from your principal for BCom during articleship.You would then be required to pay ₹ 10000 (which is at present ₹ 5000 for some limited period of time) as penalty along with form 112 duly signed by your principal, only then you would be allowed to show your BCom degree officially.So please fill this form asap if you haven’t filled it earlier.

Do I need to fill out Form 112 for a CA Articleship if I have already done B.Com. before starting the Articleship?

If you have already completed B.Com, before joining article ship, then you need not intimate the Institute about the same.Having said that, I would recommend you to pursue M.Com through IGNOU (in tie up with ICAI), along with CA. This will help you to become a Post Graduate before you are a Chartered Accountant. If you do that, you need to intimate the Institute, that you are simultaneously pursuing another course, besides CA.The next step will be to clear National Eligibility Test (NET) or State Level Eligibility Test (SLET), and apply for Junior Research Fellowship offered by University Grants Commission (UGC), after you complete your article ship.There after, the next step is to pursue Doctorate (PhD).In the process, you will be eligible to become lecturer in any Indian College / University, if you are passionate about teaching / coaching.Otherwise, you can practice or join industry, in line with your future plans.

I am a CA IPCC student. Do I have to fill out form 112, if I am pursuing an MCom distance education under IGNOU University?

HI,U need to fill Form 112 at the time of joining articleship. Must fill form 112 when u join articleship otherwise u will get into trouble while apply to membership.Form 112 is required to be fill for every course pursuing with CA articleship including distance course also.You can also refer my below video for getting more information about form 112.Form 112 ICAI Very Important Information.:-

Is it mandatory to fill Form 112 of the CA articleship form if I am doing an M.Com?

The permission of ICAI is required to be obtained in Form 112 by all students who are interested in undertaking another additional course along with Articleship. This permission is required irrespective of whether the student intends to pursue the additional course through correspondence or regular college. This permission in Form 112 is required for both graduation as well as post graduation courses.The permission is required to be obtained either at the time of joining articleship (if the student is already pursuing the course) or after joining articleship (if the student intends to join the additional course after he has already started his articleship).

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