Profit and Loss Statement Format as per Schedule III (Word Template)

A statement of profit and loss in the Schedule III Division I layout, with note numbers, a previous-year column and a sign-off block.

Free · CORAA original — SA-aligned

Updated 9 Oct 2026

Layout

Schedule III, Division I

Columns

Particulars, note no., current and previous year

Ind AS companies

Use Division II

Source of figures

Adjusted trial balance

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Engagement details

The client and period this document is for.

Name of company

Year ended

Amounts in

Place

Date

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Profit and Loss Statement Format as per Schedule III

Statement of Profit and Loss

Name of the company: {{entity_name}} | For the year ended {{period_end}} | Amounts in ₹ in lakh

Particulars	Note no.	Year ended {{period_end}}	Previous year
I. Revenue from operations
II. Other income
III. Total income (I + II)
IV. Expenses
Cost of materials consumed
Purchases of stock-in-trade
Changes in inventories of finished goods, work-in-progress and stock-in-trade
Employee benefits expense
Finance costs
Depreciation and amortisation expense
Other expenses
Total expenses (IV)
V. Profit or loss before exceptional items and tax (III − IV)
VI. Exceptional items
VII. Profit or loss before tax (V − VI)
VIII. Tax expense: current tax, deferred tax
IX. Profit or loss for the period (VII − VIII)
X. Earnings per equity share: basic and diluted (₹)

See the accompanying notes forming part of the financial statements.

For and on behalf of the Board of Directors

Director: ____________________ Director: ____________________

Place: {{place}} Date: 10 October 2026

Notes for the preparer

This layout follows the statement of profit and loss under Division I of Schedule III to the Companies Act, 2013 (financial statements that follow Indian GAAP). Companies that follow Ind AS use Division II, which adds other comprehensive income and a statement of changes in equity.
Every line that has a note should carry the note number, and the notes must give the break-up Schedule III requires.
Show the previous year's figures for every line. Regroup them where the classification has changed, and say so in the notes.
Draw the figures from the adjusted trial balance, with each ledger mapped to one line. The trial balance format on this site has a Schedule III mapping section for this.

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What’s inside

An excerpt from the template.

Statement of Profit and Loss

Name of the company: ___ | For the year ended ___ | Amounts in ___

See the accompanying notes forming part of the financial statements.

For and on behalf of the Board of Directors

↑ Excerpt only — the full template is what you download as Word

About this template

What you’re downloading, and when to use it.

This template follows the format published by the Institute of Chartered Accountants of India (ICAI) in the AASB Audit Working Paper Templates (June 2023), the authoritative reference for Indian statutory-audit documentation. Fill in your firm’s letterhead and the engagement details on the form above, click Download Word file, and you’ll get a fully formatted .docx ready to use.

Everything is generated in your browser and on a stateless API endpoint — no account, nothing stored on our servers. We’ll ask for a work email once before your first download so we can send you the file and the occasional relevant update; after that, downloads on this device are instant. Edit freely in Word, Google Docs or Pages before sending to your client.

Common questions

FAQs.

What is the format of the statement of profit and loss under Schedule III?

Under Division I, it starts with revenue from operations and other income, gives total income, lists expenses such as cost of materials consumed, purchases of stock-in-trade, changes in inventories, employee benefits, finance costs, depreciation and other expenses, and arrives at profit before exceptional items and tax, profit before tax, tax expense and profit for the period, with earnings per share. Each line carries a note number and a previous-year figure.

What is the difference between a profit and loss account and a statement of profit and loss?

The older profit and loss account format has been replaced for companies by the statement of profit and loss prescribed in Schedule III of the Companies Act, 2013. Firms and sole proprietors that are not governed by Schedule III may still use a simpler profit and loss account.

Which division applies to my company?

Division I applies to companies whose financial statements follow Indian GAAP, Division II to companies that follow Ind AS, and Division III to non-banking financial companies that follow Ind AS. Banking and insurance companies have their own formats.

Where do the figures come from?

From the adjusted trial balance, with each ledger mapped to one line of the statement. The totals of the mapped lines should agree with the trial balance.

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