Can a foreign company branch office incorporated u/sec.592, prepare Income expenditure statement but not a profit and loss account, do we have any link between sec,209 and 211 ?
nidhigoel89
(Company Secretary )
(594 Points)
Replied 07 September 2011
Hello,
Basis for preparing P& L or Income and Expenditure is that when a company is earning some profits and doing business then they have to prepare Profit and Loss Account otherwise it would be Income & Expenditure.
Regards
Nidhi
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