Can I use the Profit and Loss reports for advance tax payment?

Can I use the Profit and Loss reports for advance tax payment?

Yes. We have used the same approach for calculations here, which we use for our tax module. Additionally, we use the RBI reference rates for USD to INR adjustment, which is as per the guidelines of the Income Tax Department.

Please keep in mind that these reports are informational in nature, and we highly recommend getting them reviewed by your tax advisor or CA before making any decisions.

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