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)
Follow

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)
Follow

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