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.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Off Market debit and credit transaction
- Showing Gift from relative in ITR for this year
- Short Term Capital gain on shares bought and sold after 2018 onwards
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR selection for salaries and capital gain less than L
- ITR filing- non tax audit cases- Asstt.Year 2026-2027
- Treatment of Pension ?annuity returns on PMVY
- Soyabean hsn code and gst rate
- Regarding IMS Mandatory from 1st July 2026
- GSTR-4 Annual Return ! Pending Returns for F.Y. 20-21 to 22-23
- TDS on payment to CHA as per new section
- Sale of Forign Shares
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
