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grossprofit calculation

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(Querist)
16 January 2009 please say if i want to prepair a general balance sheet ,p&l ac in what ratio should the Grossprofit & net proft calculated
or formula because clients doesnot say their actual profit for incometax
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Pooja Chopda

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Pooja Chopda (Expert)
16 January 2009 Survesh I don't think you should manipulate the financial statements as per clients requirement. Just follow the GAAPs & ASs & whatever laws are applicable to your client- income tax law, co law, etc.
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