Is it possible and how to Show profits on the company as a passive income for a H1 sole owner in US company

Without more context, it is impossible to answer that question competently.

Can I concurrently file I-539 and I-765 when switching from E2 to L2?

Complete instructions for the I-765 are available at www.uscis.gov

Form-485 part 1. Current USCIS Status? is this the class of visa to I have such as Turist B2?

Your current status could be a valid nonimmigrant status, or "applicant for adjustment of status."

Question about affidavit of support

Write a letter to the Embassy to advise them of your change of heart.

Selected as the best answer

As long as he or she wants. Note that an extended stay may cause difficulties with returning to the US.

L2 EAD from INDIA - Planning to start business in USA

These are both possible. Discuss the details in consultation with an immigration attorney.

Can I work for an indian company as a consultant?

You should get an EAD to avoid any potential problems later.

What date is used for Driving License expiration date by Texas DMV in case of L1B visa with valid I-94 beyond visa date.

The I-94 should control. Visit the Texas DMV's website for this type of information.

Is a 5 year contract necessary with the employer for a Physician NIW Green card process application when filing for I 140?

That is a complicated question that would best be answered in a confidential consultation with a local immigration attorney.

L2 i94 validity is more than L1 i94 expiry. Planning to file L1B i94 extension. Does L2 i94 also need to be extended?

Something does not make sense in your inquiry. You should ask your company's immigration counsel.