This is the final part of the profit and loss account. If the net profit figure is negative, the business has made a loss.

Profit and loss accounts are normally produced every year, showing the profit or loss made over the past 12 months. This is known as the trading period. There are many stakeholders that will be ...

The 12-Month Profit and Loss Projection Worksheet is used by companies to project profits and losses for up to 12 months in the future.

2. The solitary issue in appeal is against disallowance of expenses u/s. 37 of the Income Tax Act, 1961 (hereinafter referred to as ‘the Act’) being the contingent liability of Rs. 3,07,75,963/- ...