FnO Trading - P&L
I have analyzed FnO Trading and extracted turnover (by summing up positive and negative values) as 16.8 lakhs (Positive diff comes to 9.2 lakhs and negative diff comes to 7.7 lakhs). Total Sales (Margins) as per trade book comes to Rs.2.05 cr and Total purchases comes to Rs.2.035 cr. Hence Gross Profit is Rs.1.5 lakhs only, after deducting STT, Brokerage, GST etc, net profit comes to Rs.1.23 lakhs.
My question is how above to be presented in ITR P&L,
a. GP of Rs.1.5 lakhs on credit side and all other expenses like brokerage, GST, STT etc on Debit side and to show net profit of Rs. 1.23 lakhs
b. To show sales of Rs.2.05 cr and purchased of Rs.2.035 cr and then show GP, followed by above exp and then NP
c. To show positive diff of 9.2 lakhs as sales and negative diff of 7.7 lakhs as purchased and then GP, exp as above and NP
Any other method to calculate the above.
It's simple no need of p and l and balance sheet.
Just want to confirm (Not for this example) if at all I have to prepare P&L then which method would be appropriate (In the above example's context can you explain please)