A profit and loss statement summarizes a business’s revenue and expenses. Learn how to use a profit and loss statement to ...

Income from F&O trading, whether gains or losses, is required to be reported under the head “Profits and Gains of Business or ...

If weather predictions hold true, many businesses could suffer property damage or lose business income due to weather-related shutdowns, road closures, supply chain interference and more. As hurricane ...

The Tribunal held that merely treating a claimed business loss as a speculative loss amounts to a change in head of loss, not under-reporting of income. Penalty under Section 270A was deleted as there ...