Accounting for option trading

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499 Points Posted on 20 August 2022
according to the broker the taxable turnover (absolute) was 1.04cr. the loss was around 2.4lac and brokerage was 48k. how to consider the sale n purchase of options to arrive the net loss (incl charges) ime., 2.88lac loss?
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On 20 August 2022 at 12:51 Report
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Quick Summary
This discussion focuses on the correct accounting treatment for option trading. The user is seeking clarification on how to calculate the net loss, considering taxable turnover, actual losses, and brokerage fees. The consensus is that the net loss, including all charges, should be reported.

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CA
10436 Points Posted on 20 August 2022
For advice please check your inbox.
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On 20 August 2022 at 13:14
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CFO- at NHTF
58280 Points Posted on 20 August 2022
@ Sri Snigdha,

2.88lacs is the loss since brokerage can be claimed as exp
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On 20 August 2022 at 15:38
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499 Points Posted on 21 August 2022
Yes I do agree the net loss was 2.88lac, if I report the taxable turnover at 1.04cr in the credit side of p&l what should be the purchase?
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On 21 August 2022 at 17:27

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