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?
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.
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.
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