Article • 2026-03-25
Individual P&L & Balance Sheet Generator
Individual P&L & Balance Sheet Generator
by CA V. Viswanathan
FCA, ACS, CFE, Registered Valuer (S&FA) | Since 2012
Individual P&L & Balance Sheet Generator
Generate complete financial statements for proprietors & professionals filing ITR-3 / ITR-4. Upload last year's Excel or PDF to auto-fill opening balances, enter current year figures, and download a 5-sheet Excel workbook.
Covers: Profit & Loss Account • Balance Sheet • Depreciation Schedule (IT Act) • GST Turnover Summary • Capital Account / Computation
For: Business proprietors (with/without GST) and professionals/freelancers (CA, Doctor, Consultant etc.)
For: Business proprietors (with/without GST) and professionals/freelancers (CA, Doctor, Consultant etc.)
📂 Upload Previous Year Financial Statements (Optional)
Upload last year's Excel (.xlsx) or PDF to auto-fill opening balances & previous year figures
You can select multiple files at once (e.g. P&L PDF + Balance Sheet PDF + Depreciation Excel)
💼 Business / Professional Information
💰 GST Turnover (Current Year)
📈 Income (Profit & Loss — Credit Side)
Enter amounts in ₹. Previous Year column auto-fills from upload or enter manually.
Revenue from Operations
ParticularsCurrent Year (₹)Previous Year (₹)
Sales / Receipts from Business
Professional / Service Income
Other Operating Revenue
+ Add Revenue Line
Total Revenue
Other Income
Interest Income
Commission Income
Rental Income
Other Non-Operating Income
+ Add Income Line
Total Other Income
GROSS TOTAL INCOME
💲 Expenses (Profit & Loss — Debit Side)
ParticularsCurrent Year (₹)Previous Year (₹)
Trading Account
Opening Stock
Purchases / Cost of Materials
Direct Expenses
Closing Stock
Gross Profit
Indirect Expenses
Salaries & Wages
Rent
Depreciation (auto from schedule)
Interest Expense
Professional / Legal Fees
Office & Admin Expenses
Travelling Expenses
Telephone & Internet
Printing & Stationery
Bank Charges
GST Expense (non-ITC)
Insurance
Repairs & Maintenance
Other Expenses
+ Add Expense Line
Total Expenses
NET PROFIT / (LOSS)
📊 Depreciation Schedule (as per Income Tax Act, 1961)
WDV method. Additions during the year get depreciation at 50% of normal rate (assets used < 180 days). Depreciation auto-feeds into P&L expenses.
| Asset Block | Rate % | Opening WDV | Additions | Sales / Disposal | Depreciation | Closing WDV |
|---|---|---|---|---|---|---|
| TOTAL | 0 | 0 | 0 | 0 | 0 | |
+ Add Custom Asset Block
💵 Balance Sheet — Assets
Cash & Bank Balances (Closing)
+ Add Bank Account
Other Current Assets
TOTAL ASSETS
💳 Balance Sheet — Liabilities
Capital Account
Loans
Current Liabilities & Provisions
TOTAL LIABILITIES
Balance Sheet Tallies: Assets = Liabilities = ₹0
Profit & Loss
Balance Sheet
Depreciation
GST Summary
Capital Account
Our experts will review your case and get back to you within 24 hours.
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This tool generates financial statements for reference purposes only. All figures must be verified by a Chartered Accountant before filing with the Income Tax Department. Depreciation rates are as per Income Tax Act, 1961 (WDV method). The half-year depreciation rule applies to additions during the year (assets used for less than 180 days). GST turnover figures must reconcile with GSTR-9 annual return. Balance Sheet must tally (Assets = Liabilities) before filing.
DISCLAIMER — The tools and calculators provided on this website by Virtual Auditor (virtualauditor.in) are for informational and educational purposes only. They do not constitute professional advice — whether legal, financial, tax, regulatory, or otherwise. While we make every effort to keep the information accurate, complete, and up to date, we do not guarantee or warrant the accuracy, reliability, or completeness of any calculations, outputs, or recommendations generated by these tools. Laws, rules, regulations, fee schedules, tax rates, and government policies are subject to change without notice. Actual fees, penalties, compliance requirements, and regulatory outcomes may differ based on your specific facts, circumstances, and the applicable regulatory authority’s interpretation. These tools are NOT a substitute for professional consultation. Users are strongly advised to consult a qualified Chartered Accountant, Company Secretary, Lawyer, or other professional advisor before taking any action based on the output of these tools. Virtual Auditor, its partners, employees, and affiliates shall not be liable for any loss, damage, or consequence arising from the use of or reliance on information provided by these tools. By using any tool on this website, you acknowledge and agree that: 1. The output is indicative and approximate — not a final determination. 2. You will verify all calculations and recommendations with a qualified professional. 3. Virtual Auditor bears no responsibility for decisions made based on tool outputs. 4. Government fee schedules, tax rates, and regulatory provisions referenced are based on publicly available information as of the last update date and may have changed.
For professional assistance, contact: Virtual Auditor | G-131, Phase III, Spencer Plaza, Anna Salai, Chennai 600002 | Phone: +91-99622-60333 | Email: support@virtualauditor.in | Web: virtualauditor.in
— Last updated: March 2026
DISCLAIMER — The tools and calculators provided on this website by Virtual Auditor (virtualauditor.in) are for informational and educational purposes only. They do not constitute professional advice — whether legal, financial, tax, regulatory, or otherwise. While we make every effort to keep the information accurate, complete, and up to date, we do not guarantee or warrant the accuracy, reliability, or completeness of any calculations, outputs, or recommendations generated by these tools. Laws, rules, regulations, fee schedules, tax rates, and government policies are subject to change without notice. Actual fees, penalties, compliance requirements, and regulatory outcomes may differ based on your specific facts, circumstances, and the applicable regulatory authority’s interpretation. These tools are NOT a substitute for professional consultation. Users are strongly advised to consult a qualified Chartered Accountant, Company Secretary, Lawyer, or other professional advisor before taking any action based on the output of these tools. Virtual Auditor, its partners, employees, and affiliates shall not be liable for any loss, damage, or consequence arising from the use of or reliance on information provided by these tools. By using any tool on this website, you acknowledge and agree that: 1. The output is indicative and approximate — not a final determination. 2. You will verify all calculations and recommendations with a qualified professional. 3. Virtual Auditor bears no responsibility for decisions made based on tool outputs. 4. Government fee schedules, tax rates, and regulatory provisions referenced are based on publicly available information as of the last update date and may have changed.
For professional assistance, contact: Virtual Auditor | G-131, Phase III, Spencer Plaza, Anna Salai, Chennai 600002 | Phone: +91-99622-60333 | Email: support@virtualauditor.in | Web: virtualauditor.in
— Last updated: March 2026
CA V. Viswanathan
FCA, ACS, CFE, Registered Valuer (S&FA) | IBBI/RV/03/2019/12333 | Since 2012
G-131, Phase III, Spencer Plaza, Anna Salai, Chennai 600002