HomeProfit & Loss
PROFIT AND LOSS ACCOUNT
Part A – P&L — Profit and Loss Account for the previous year 2024-25 relevant to A.Y. 2025-26
Fill items 1 to 22 if regular books of accounts are maintained
Regular Books of Accounts
CREDITS
| Ref | Particulars | Amount (₹) |
|---|---|---|
| 1 | Gross profit b/f from Trading Account | |
| 2 | Other operating income | |
| 3 | Closing stock of work-in-progress | |
| 4 | Total (1 + 2 + 3) | 0 |
| 5 | Net profit (4 minus Total Debits 21) | |
| 6 | Depreciation admissible under Income Tax Act | |
| 7 | Net profit after depreciation (5 + 6) | |
| 8. Amount debited to P&L but disallowable | ||
| 8i | Personal, advertisement expenses | |
| 8ii | Interest not deductible u/s 40A(2) | |
| 8iii | Payment to relatives disallowed u/s 40A(2)(b) | |
| 8iv | Amount inadmissible u/s 40(a)(ia) | |
| 8v | Amount inadmissible u/s 40(a)(i) | |
| 8vi | Other inadmissible expenses | |
| 8 | Total 8 (8i + 8ii + 8iii + 8iv + 8v + 8vi) | |
| 9 | Income chargeable under other heads but credited to P&L | |
| 10 | Deductible allowances not credited to P&L | |
| 11 | Total Credits (7 + 8 + 9 + 10) | 0 |
DEBITS
| Ref | Particulars | Amount (₹) |
|---|---|---|
| 1 | Opening stock of work-in-progress | |
| 2 | Salaries and wages | |
| 3 | Bonus | |
| 4 | Remuneration to partners (if applicable) | |
| 5 | Rent paid | |
| 6 | Repairs and maintenance | |
| 7 | Insurance | |
| 8 | Power and fuel | |
| 9 | Rates and taxes | |
| 10 | Printing and stationery | |
| 11 | Postage, telegram and telephone | |
| 12 | Advertisement and publicity | |
| 13. Interest paid | ||
| 13i | To bank | |
| 13ii | To others | |
| 13 | Total interest (13i + 13ii) | |
| 14 | Depreciation | |
| 15 | Bad debts | |
| 16 | Provision for bad and doubtful debts | |
| 17 | Loss on sale of assets | |
| 18 | Expenditure on scientific research | |
| 19 | Misc expenditure | |
| 20 | Other expenses | |
| 21 | Total Debits (sum of 1 to 20) | 0 |
| 22 | Net Loss — nil (credits exceed debits) | |
Total Credits (11): 0
Total Debits (21): 0
Net Profit: 0
No Regular Books of Accounts
Fill only if regular books of accounts are NOT maintained
| Ref | Description | Amount (₹) |
|---|---|---|
| 40 | Turnover / Gross receipts from business or profession | |
| 41 | Net profit from business or profession | |
| 50 | Income from other sources credited to P&L |