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What is the difference between profit and gain?
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Answer / kavitha
profit is the term used when we get excess money while
purchasing ans selling goods or material.
gains we get as brokerage, comssion etc, getting for the
services.
| Is This Answer Correct ? | 17 Yes | 4 No |
profit is the thing which is derived after meeting all the
expenses of abusiness then it could be regarded as a profit
income is the gain which is derived when they receive
certain income that can be regarded as source of income
might be in the form of commission , brokerage if any
corrections let me know
| Is This Answer Correct ? | 11 Yes | 3 No |
Answer / sridharan.v
Profit is the term used when we get excess money in
Business.
Where as Gains we get By way of Non-business activities
such as brokerage,comssion etc,getting for the
services.
| Is This Answer Correct ? | 5 Yes | 2 No |
Answer / amritesh kumar rai
Gain is of capital nature and profit is of revenue nature.
| Is This Answer Correct ? | 3 Yes | 1 No |
Answer / jyothi
Profit is excess of investment in business. gain is the
term of commission getting from some other additional work.
if is there any correction pls let me know....,
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / hemant dubey
i think profit is excess amount of business but gain is
excess amount of services.
means in the case of business on the activity of business
whatever we earn that is profit
but when we provide any services and against from that we
earn some thing that come under the gain.
| Is This Answer Correct ? | 2 Yes | 2 No |
Answer / amit kumar
Profit is the term used when we sale goods and services and
got profit.(because we sale goods with 5 of profit, like we
purchase a goods in RS-4000/00 and sale RS-4500/00 so
Rs-500/00 is our profit, and gains is something we gain
,like increase sales unit. and mainly gain in unit.
| Is This Answer Correct ? | 1 Yes | 2 No |
Answer / venu
hi,
There is no differnce between both of ....But u will
have differnce between Gain and income....
| Is This Answer Correct ? | 6 Yes | 18 No |
I have some queries about Service Tax, I am working in a Insurance Broking Company. 1) We have raised one bill on 25.04.09 for the services provided by us in the month Mar, 09 Now We received the chq on May, 09 followed in the Month of June,09. When the service tax is actually payable in the month of received of Service tax amount or in the month of services actually provided by us (Mar09) 2) Can we take 100% credit of Service Tax Input paid to those who provided services to us. Suppose Service Tax payable is Rs. 100/- and Service tax charged by the other firms/company Rs. 80/-. The question is That can we deduct Rs. 80/- (already paid). Now Net ST payable would be Rs. 20/- or other percent of service tax input is available 3) What is the rate of interest for Service tax if not paid on time. Pls help me out asap
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