dear colleagues
gud noon
ek client hai mere jinhe commodities trading me 175500/- ka short term loss hua hai... toh unka turnover kaise calculate kru or iss show kaise kru
regards
The transaction without delivery basis are treated as business income.
the loss should be declared under PGBP head.
The turnover in case of F&O transaction to be computed as below:
(i) The total of favorable and unfavorable differences (Profit/Loss) shall be taken as turnover.
(ii) Premium received on sale of options is also to be included in turnover.
(iii) In respect of any reverse trades entered, the difference thereon, should also form part of the turnover.
Please note whether the difference is profit or loss it will not make any difference, and all the difference aggregated to compute the turnover.
CAclubindia
