Regarding f & o
This query is : Resolved
Divyesh Pithava
(Querist)
17 February 2016
Hello,
How turnover is calculated in case of trading in F & O?
I want to know that F & O transactions are treated as business income or it is shown as investment when accounting?
Pls Being helpful to me
Thank you
How turnover is calculated in case of trading in F & O?
I want to know that F & O transactions are treated as business income or it is shown as investment when accounting?
Pls Being helpful to me
Thank you
17 February 2016
1. Turn over for the purpose of checking tax audit limit is the absolute value of the profit and loss of F & O transactions.
2. For accounting purpose ,profit and loss only is considered and has to be taken directly to the respective sides of P & L account.
2. For accounting purpose ,profit and loss only is considered and has to be taken directly to the respective sides of P & L account.
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Divyesh Pithava
(Querist)
18 February 2016
Thank you sir
In case of F & O transactions for calculating turnover i made a total of total profit or loss figure or total purchase & sale transactions?
In case of F & O transactions for calculating turnover i made a total of total profit or loss figure or total purchase & sale transactions?
Rahul Magan
(Expert)
13 March 2016
Profit and loss figures which would hit either side of the P&L ~ Rahul Magan , 91-9899242978
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