Gross Receipts/Expenses
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
22 May 2011
What is the mean of Gross Receipts in relation to intraday trading of shares & derivatives. More particularly when loss is occured in entire previous year, what amount will be treated as Gross Receipt and Expenses for PL purposes and ITR 4
22 May 2011
in case of deriatives/intraday, the contract payable value, as its business income/speculation income.
for cpaital gain ( delivery based) only the diff is to be taken in account.
for cpaital gain ( delivery based) only the diff is to be taken in account.
22 May 2011
Absolute value of the profit and loss is the turn over / gross receipts for the purpose of 44AB audit.
Citation :- Growmore Exports Vs. ACIT 78 ITD 95.
Citation :- Growmore Exports Vs. ACIT 78 ITD 95.
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