Answer / guest

gain:- total amt received by any transaction
or
total amt received - total cost

profit :- gain - taxable amt.
or

total amt received- (total cost + tax paid )

Answer / shaik bajivali

PROFIT IS ARAISED AFTER ALL DEDUCTIONS AND EXPENSES.
GAIN IS ARAISE DON THE CAPITAL INVESTED.

Answer / vikramaditya

gain means gaining a business lead or reputation which is
nothing but goodwill. Gain can be any gain which can be
treated as benefit which is mostly short term. Profit is
the gain in monetary terms after removing all costs,
interests, reserves and taxes.

Answer / arcot purna prasad

Profit and gain are one and the same. In layman's language
it is gain. But if you are using accounting language it is
Profit.

Answer / balakrishna

PROFIT IS TREATED AS ALL REVENUE-ALL
EXPENSES.
GAIN IS TREATED AS COMPANY TOTAL PROFIT

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