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FY 2024-25 Financial Statements Overview

The document presents financial statements for FY 2024-25, including a Profit & Loss Account showing a net profit before tax of 5,00,000 and a Balance Sheet as of March 31, 2025, with total assets and liabilities both at 12,00,000. Additionally, it includes a computation of income for AY 2025-26, indicating a gross total income of 5,00,000 and a final tax payable of 0 after applying deductions and rebates. Overall, the financial health of the entity appears stable with a positive net profit and balanced assets and liabilities.

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2 views2 pages

FY 2024-25 Financial Statements Overview

The document presents financial statements for FY 2024-25, including a Profit & Loss Account showing a net profit before tax of 5,00,000 and a Balance Sheet as of March 31, 2025, with total assets and liabilities both at 12,00,000. Additionally, it includes a computation of income for AY 2025-26, indicating a gross total income of 5,00,000 and a final tax payable of 0 after applying deductions and rebates. Overall, the financial health of the entity appears stable with a positive net profit and balanced assets and liabilities.

Uploaded by

utkarshgupta7218
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd

Example – Financial Statements (Demo)

1. Profit & Loss Account (FY 2024–25)


Particulars Amount (■)
Revenue (Sales / Turnover) 30,00,000
Less: Purchases & Direct Exp. 24,00,000
Gross Profit 6,00,000
Less: Indirect Expenses
– Salary & Wages 50,000
– Rent, Electricity, Admin 30,000
– Miscellaneous Expenses 20,000
Total Indirect Expenses 1,00,000
Net Profit before Tax 5,00,000

2. Balance Sheet (as on 31st March 2025)

Liabilities
Particulars Amount (■)
Capital A/c (Opening) 5,00,000
Add: Net Profit 5,00,000
Total Capital 10,00,000
Current Liabilities 2,00,000
Total Liabilities 12,00,000

Assets
Particulars Amount (■)
Fixed Assets (Machinery, Furniture) 3,00,000
Closing Stock 4,00,000
Debtors (Receivables) 3,00,000
Cash & Bank Balance 2,00,000
Total Assets 12,00,000

3. Computation of Income (AY 2025–26)


Particulars Amount (■)
Net Profit as per P&L 5,00,000
Add/Less: Adjustments (Depreciation, etc.) –
Business Income 5,00,000
Gross Total Income 5,00,000
Less: Deductions u/s 80C, 80D (if any) –
Total Taxable Income 5,00,000

Tax Liability (Old Regime)


• Up to ■2,50,000 → Nil
• ■2,50,001 to ■5,00,000 → 5% = ■12,500
• Less: Rebate u/s 87A = ■12,500
Final Tax Payable = ■0

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