I want balance sheet format of futures & options business?

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

11 August 2014 Dear Expert,

In case of F&O business, turnover is calculated on the basis of aggregate of +- of profit and loss from F & O trading is more than 1 crore.

In my case, Tax audit is applicable, Can you please provide me the balance sheet format of F & O business for presentation purpose.

its urgent.
Pls. do the needful.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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12 August 2014 it is same as any other balancesheet. You gotta make it in the same manner.

Querist : Anonymous

Querist : Anonymous (Querist)

12 August 2014 Nikhil Sir,

Suppose, I purchased Bank NIFTY lot (125 qty) at avg. price say Rs. 11186/- and i sold the same at Rs.11262/-

There is profit of ( Rs. 11262- Rs.11262)X125 qty= Rs.9500.

Now Please tell me how to show this figures in p & L A/c.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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23 August 2014 you will only show the net profit amount in the p&l.

Querist : Anonymous

Querist : Anonymous (Querist)

25 August 2014 Sir,
In my case,
Net aggregate loss is Rs. 1.25cr
and net aggregate profit is Rs. 75lacs.

you mean to say i need to show Rs. 50 lacs loss from F & O business in P& l A/c?
and there is brokerage of Rs. 8lacs and STT around Rs. 50K.

There are only three figures in P& L A/c
1. Net loss
2. brokerage
3. STT amt.

Please give your opinion.
Thanks

Aashok Kumar Sharma online

Aashok Kumar Sharma online

(Expert)
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28 July 2024 https://docs.google.com/document/d/1dnUc_R_BgmzeUraWZWhu10ATmf6SWnCDrn7KRETj3Vk/edit?usp=sharing

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