Schedule , p&l account , balance sheet .
Querist : Anonymous
1) What are the schedules for profit and loss account and Balance sheet ?
2) profit and loss account of the company should be as per the Income tax act or as per the company act 1956 at the end of the year?.
Thanks in advance .
second question is rather very basic. please read provisions of companies act.
secondly there is nothing called preparation of books are per income-tax act. income tax adjustments are not made in the books
Querist : Anonymous
Thanks for reply sir.
However ,I am taking about exp allowed and disallowed in P&L .
Querist : Anonymous
Sir,for i.e Expense shown by us 20000/- and allowed only 4000/- .
Querist : Anonymous
yes sir, Rs 4000/- as per income tax law .
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