Trading involves buying and selling of goods. You can prepare profit and loss account as well.

Suraj Lakhotia

Admin

29-Jan-21 05:57

For contractors [ Building Developers ] prepare income & expenditure account or trading , profit & loss account ? Which can choose ?

BALAMURALI UNNITHAN M S

CA Inter

★ 2K+

29-Jan-21 08:31

Company - SCH III Others - can choose as per their choice.

Suraj Lakhotia

Admin

29-Jan-21 10:21

Income & expenditure account is used for non profit organisations , its also used for other constitutions ?

BALAMURALI UNNITHAN M S

CA Inter

★ 2K+

01-Feb-21 21:32

Professionals

Suraj Lakhotia

Admin

02-Feb-21 08:43

Means services ?

BALAMURALI UNNITHAN M S

CA Inter

★ 2K+

02-Feb-21 09:59

Yes

Suraj Lakhotia

Admin

03-Feb-21 08:52

Thank u

BALAMURALI UNNITHAN M S

CA Inter

★ 2K+

03-Feb-21 09:13