26 June 2023
As per latest tax audit guidelines published by ICAI in 2022 and applicable for AY 2023-24, the calculations of F&O turnover are clear. There is no separate exceptions in guidelines for currency F&O trade.
In most of examples given at various platforms and websites ,the illustrations on based with stocks F&O. And could not find specific reply of currency F&O trade. It creates question of what about Currency F&O trade.
1. Is that also covered under similar method of calculations for arriving at turnover amount ? OR 2. . Does it need to add full value of trade instead of absolute P&L figures. ??
3. Is there any exception / separate guidelines for currency trade turnover amount calculations>>>..
CAclubindia
