Balance Sheet and Profit & Loss (P&L) Statements reflect the financial health
and performance of a business and are mandatory under Indian tax and compliance laws.
These statements are required for Income Tax filing, GST compliance,
bank loans, audits, and statutory reporting and must be prepared accurately.
Profit & Loss Statement
Sales & revenue summary
Direct and indirect expenses
Gross & Net Profit calculation
Used for Income Tax computation
Balance Sheet
Assets = Liabilities + Capital
Cash, bank balance & debtors
Inventory & fixed assets
Capital, loans & statutory dues
Documents Required for Profit & Loss
Sales invoices / sales register
Purchase invoices / expense bills
Direct & indirect expense details
GST returns (GSTR-1, GSTR-3B if applicable)
TDS details (if applicable)
Bank statements for the full financial year
Documents Required for Balance Sheet
Opening balance sheet (previous year)
Capital introduction / withdrawal details
Loan statements (secured / unsecured)
Fixed asset purchase invoices
Depreciation details (if any)
Sundry debtors & creditors list
Stock / inventory details as on 31st March
Outstanding expenses & statutory dues
*Providing complete and accurate documents helps in faster completion
and error-free finalization of accounts.
Find the Right Accounting Package
Estimated Work Completion
*Calculated as T + 10 working days from receipt of complete documents.
📑 Balance Sheet & Profit & Loss Statement
(As per Indian Accounting Practices)
By GSTBUY.COM | www.gstbuy.com
Overview
Profit & Loss
Balance Sheet
Documents Required
Recommended Package
Estimated Completion
Balance Sheet and Profit & Loss (P&L) Statements reflect the financial health
and performance of a business and are mandatory under Indian tax and compliance laws.
These statements are required for Income Tax filing, GST compliance,
bank loans, audits, and statutory reporting and must be prepared accurately.
Profit & Loss Statement
Sales & revenue summary
Direct and indirect expenses
Gross & Net Profit calculation
Used for Income Tax computation
Balance Sheet
Assets = Liabilities + Capital
Cash, bank balance & debtors
Inventory & fixed assets
Capital, loans & statutory dues
Documents Required for Profit & Loss
Sales invoices / sales register
Purchase invoices / expense bills
Direct & indirect expense details
GST returns (GSTR-1, GSTR-3B if applicable)
TDS details (if applicable)
Bank statements for the full financial year
Documents Required for Balance Sheet
Opening balance sheet (previous year)
Capital introduction / withdrawal details
Loan statements (secured / unsecured)
Fixed asset purchase invoices
Depreciation details (if any)
Sundry debtors & creditors list
Stock / inventory details as on 31st March
Outstanding expenses & statutory dues
*Providing complete and accurate documents helps in faster completion
and error-free finalization of accounts.
Find the Right Accounting Package
Estimated Work Completion
*Calculated as T + 10 working days from receipt of complete documents.
