banner_ad

Different method to calculate the income from B & P

This query is : Resolved 
Profile Image

Profile Image

(Querist)
21 August 2009 Usually we calculate the Income from Business & Orofessio by making adjustments in the net profit by additions or deletions. However we can also compute the same income by considering only business income & expenses. Answer by both the methods is ought to be the same. The latter method is known as "Gross Profit Method".

My query to all the members is that whether such method of calculation is valid for CA exams? Logically no marks should be deducted for it. However i would require the opinion of the members.
Profile Image

CA CS CIMA Prakash Somani

Profile Image

CA CS CIMA Prakash Somani (Expert)
21 August 2009 Answered
Profile Image

CA CHINTAN AJMERA

Profile Image

CA CHINTAN AJMERA (Expert)
21 August 2009 Yes it is valid method
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
27 May 2026
Audit Assitant

Virender K Gupta and Co

New Delhi

B.Com

View Details
Company
23 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
Featured 26 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
29 May 2026
Company Secretary - Part time

Shaswat initial support private limited

Ahmedabad

CS

View Details
Company
14 May 2026
ICSI Trainees for 21 Months and Semi-Qualified CS

CMNITY HIRE

New Delhi

Others

View Details
Company
24 May 2026
Accounts & Tax Executive

PARAS KHURANA AND CO

New Delhi

B.Com

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details
Company
14 May 2026
Financial Analyst - Remote Finance Expert

HiringBridge

Ahmedabad

CA

View Details