Is it mandatory for FnO traders to maintain books of accounts for Options trading? Or will the CA prepare the same at the end of the year?
Also what books are to be maintained for the same? Thanks!
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Books of accounts for filing returns for FnO trading?
Replies (2)
Quick Summary
I think, you have to just collect the final p&l figure for cash, intra, fno etc separately that's it.
IT DEPENDS ON THE VOLUME OF TRANSACTIONS.
THOUGH IT IS NOT MANDATORY TO MANTAIN BOOKS OF ACCOUNTS AS DESIRED .BUT ITS OPTIONAL.
THE INCOME TAX ACT AND OTHER ACTS HV MADE IT FOR ORGANIZATIONS/ LLP_ _/SOLE PROPRIETOR OR ANY OTHER FORM OF BUSINESS TO MAINTAIN BOOKS OF ACCOUNTS AS PER THRESHOLD LIMIT.
THOUGH IT IS OBLIGATORY.
THOUGH IT IS NOT MANDATORY TO MANTAIN BOOKS OF ACCOUNTS AS DESIRED .BUT ITS OPTIONAL.
THE INCOME TAX ACT AND OTHER ACTS HV MADE IT FOR ORGANIZATIONS/ LLP_ _/SOLE PROPRIETOR OR ANY OTHER FORM OF BUSINESS TO MAINTAIN BOOKS OF ACCOUNTS AS PER THRESHOLD LIMIT.
THOUGH IT IS OBLIGATORY.
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