Easy Office

F&O turnover and purchases

This query is : Resolved 

14 August 2023 what is a F&O turnover and purchases , and how turnover - purchases = profit arrived at?


15 August 2023 The turnover is sum of profit and loss value. You have to show 6% profit under presumptive scheme on the above turnover.


15 August 2023 Presumptive scheme is applicable to one who opt for it. Obliviously one who has more profit than 6% and thinks that is the case year after year opt for it. or I think basically to encourage small trader to file return with6% . Then how can you say that?
and also the question was what is purchase in F&O?


15 August 2023 The turnover is the purchase price and the selling price is turnover less loss.
Purchase price less selling price is the profit.

16 August 2023 the selling price is turnover less selling price ? it is like A= B-A or 2A=B.


16 August 2023 Small correction selling price is turnover less loss.



You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries