Accounting for future and options

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Guest

Guest (Querist)

07 March 2014 Dear Experts,

I want to know the accounting for F & O trading and treatment in income tax act.

Thanks,

Nikhil Kaushik (Expert)
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07 March 2014 accounted at income from business/profession

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Guest

Guest (Querist)

08 March 2014 Sir,

I want to know whether only Net Gain/Loss is accounted for or total turnover.

Nikhil Kaushik (Expert)
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08 March 2014 turnover is considered for eligibility of 44Ab audit. as such only the net profit/loss is taxed

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