Taxable profit
Taxable profit is the amount of a company's profit on which taxes must be paid. It is calculated by subtracting the company's total profit from deductions and exemptions such as expenses, depreciation and interest. Taxable profit is important for a company's tax accounting and helps in calculating taxes due.
Function of taxable profit
The role of taxable profit is important in determining a company's tax liabilities. It is also used when reporting financial results to the tax authorities. It is applied in all sectors and industries in which companies operate. Taxable profit is important for both small and large businesses to comply with tax laws and regulations.
