profit vs gain
This query is : Resolved
03 January 2008
what is the difference between profits and gains?
04 January 2008
Noramlly profit this word used in business.that is by purchasing and selling some goods you will earn some amount viz called as profit.But gain may be in various ways.By selling land or other immovable property you may get some profit it may called as gain.In income tax profit referred for business gain referred for capital asset.
Simply if you earn some profit in your regular business activity it may called as profit.If you earn some amount in exceptional cases like sale of land or shares it may called as gain.
Simply if you earn some profit in your regular business activity it may called as profit.If you earn some amount in exceptional cases like sale of land or shares it may called as gain.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- GST on export of services and Input Credit
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Applicable TDS rate for sale of property in Nov 2024
- Donation Receipt u/s 80G
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
Trending Online Classes
CAclubindia
