Accounting of furtures & options

Sir,

As we all know Turnover for F&O is positive and negetive differnce. Now suppose Mr. x in a financial year get only profit and earn rs. 50 lac. then it means turnover is rs 50 lac and he can file return in 44ad with profit of 4 lac (8% of 50lac).  is it a loopwhole?? and if in above instance he make loss of rs 50 Lac thn also he has to pay tax on 4 lac. or if he opt for audit then how much expenses he claim ( 1 crore). in his books of accounts for arriving at loss of rs  50 lac??  kindly reply or disscuss it.. thanks.

Replies (4)
I think Calculation of turnover is only for audit purpose. It will not effect your profit, your profit will remain 50 lakhs i.e. Net of gain minus loss. . . . But Not sure
then how will you present your financial statements??? how to maintain books of accounts??

https://taxmantra.com/gross-turnover-speculative-transactions-fo-derivatives-audit-factors.H T M L/

May be i am totally wrong..........

https://trak.in/tags/business/2012/07/09/tax-return-filing-futures-options-fo-trades/

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
14 October 2026
Asst. Manager/Dy Manager (Costing)

manufacturing

Pune

CMA

View Details
Company
ARTICLESHIP 16 September 2026
Article Assistant

MANUJ SHARMA AND COMPANY

Noida

CA Inter

View Details
Company
30 September 2026
Senior Accounts Executive

Codeboard Technology

Chennai

MBA

View Details
Company
ARTICLESHIP 07 October 2026
Article Trainee/ CMA Trainee

RMA And Associates LLP

New Delhi

CA Inter

View Details
Company
Featured 21 September 2026
Consultant - Reporting

Finrep Advisors LLP

Mumbai

CA

View Details
Company
ARTICLESHIP 07 October 2026
Article assistant

S.K.Bajpai & Co.

Noida

B.Com

View Details
Company
07 October 2026
Senior Account Manager

Amplio Invest

Mumbai

M.Com

View Details
Company
30 September 2026
Senior Accountant

Codeboard Technology

Chennai

B.Com

View Details