A Profit and Loss (P&L) Statement, also known as the Income Statement, is a crucial financial document that summarizes your business’s revenues and expenses over a specific period. It shows whether your business is making a profit or incurring a loss — helping you analyze performance, control costs, and plan for the future.
At AAR TAX INDIA, we specialize in preparing accurate, timely, and compliance-ready Profit and Loss Statements tailored for businesses of all sizes — from startups and small firms to growing enterprises.
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A Profit and Loss (P&L) Statement, also known as an Income Statement, is a key financial document that summarizes a business’s income and expenses over a specific period—usually monthly, quarterly, or annually. It provides a clear picture of whether your business is earning a profit or incurring a loss during that time.
The P&L statement includes all sources of revenue (such as sales, services, or interest income) and deducts all business expenses (like rent, salaries, purchases, utilities, etc.) to arrive at the net profit or loss.
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It helps measure your business's profitability, track income and expenses, and is essential for tax filings and financial planning.
Yes, it’s often required for tax filings, applying for loans, internal audits, and investor reporting — especially for registered businesses.
AAR TAX INDIA prepares accurate P&L statements even if you don’t use any software. We handle everything manually and securely.
Most businesses prepare it monthly or quarterly. At the very least, an annual P&L is necessary for compliance.