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Income is the revenue earned and
Profit is the surplus over and above the cost incurred in selling the product or service.
This communicates that the amounts are the remainder after expenses have been deducted. For example, a company's profit margin is often listed as the net profit margin
profit is a positive net income
The difference between Income and Profit is as follows: Income is the total sum of all your sales and Profit is the difference between your Income less your Expenses and tax liability. Gross Profit would be your profit after cost of sales is deducted from your income (sales) and net profit would be Gross profit less expenses.
No difference.Profit & Income is the same terminology.If a company has positive net income that means its profitable. To determine the profitability certain ratios could be used.Net Income is deducting COGS,TAXES,DEPRECIATION from Revenue .A negative of it means loss then business is at loss
