Profits and Gains - difference

This query is : Resolved

Anil (Querist)
Follow

11 August 2008 This query was posted few days back but strangely it disappeared shortly after posting(after the site was down for maintainance).

There is a Head of income known as - Proft and Gains from business and profession (PGBP). What is the difference between profit and Gains?

Note that

1)Capital gains is taken under separate head . So I assume Gains do not mean capital gains

2)Net income from profession is never mentioned as Gains in income statement.

SANDEEP AGGARWAL

SANDEEP AGGARWAL (Expert)
Follow

16 August 2008 ok, what you want to establish what is covered in gain.