Profit percentage

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Jogesh Jain (Querist)
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20 May 2014 HELLO ALL
IF TOTAL TURNOVER-1,30,00,000/-
TOTAL exp-1195589/-
how much profit should be kept for F.Y-13-14

Plz advice also to calculate profit percentage and how to determine wahat profit % should be kept?

In F.Y-12-13

Profit- Rs 199885.30/-
turnover-14341211.17/-
exp-14141325/-

Nikhil Kaushik

Nikhil Kaushik (Expert)
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20 May 2014 rather a strange question. I would suggest that you move away from the -goal-seek formula based Chartered Accountants. Show the actual profit irrespective of whatever profit % is the result.

Rupesh Jain

Rupesh Jain (Expert)
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20 May 2014 you have to calculate the closing stock value and determine the profit for the year.

you take audit report u/s 44AB as your sale more than one crores.

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