F&o transaction

Hi,

My client's  F&O turnover (absolute sum of profits and losses and sale value of options ) is 18 lakhs. Total loss from F&O transaction is Rs.43000. My query is while preparing P&L if I am showing turnover of 18 lakhs on credit side and 43000/- loss on debit side so what else should i disclose in the debit side to match both the sides.

Thanks,

 

Replies (1)
see...the turnover you calculated is only for income tax purposes..to know whether you are under audit or no....in profit loss account you have to show actual sales and expensed

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