1. What will be the accounting entry for purchase of future/option.
2. What happens when above entry squared off on there expiry date or squared off by trader before there expiry.
3. What entry to be made for Profit/loss of above transaction.
4. What to do at the time of finalisation of books, when I have some open position in above transactions.
5. what will be the effect of open interest in Balance Sheet. Need your cordial co-opration.
Thanking you.
Hi,
I am doing share market trading in all segment. Recently I got ledgers from my broker for income tax filing purpose wherein I have noticed the following discrepancies, why it is so, please reply
In original ledger (financial transaction with broker) I have paid 1,50,000 which is totally loss. Where as
the ledger received for FNO PNL the loss is different i.e. 1,98,000. When I have not paid more than 1.50 lacs and account is closed by both side, how the PNL in F&O shows excess loss?
Chirag P Shah & Co. Chartered Accountant
Pune
B.Com
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Twenty Point Nine Five Ventures Private Limited
Noida
CA Inter
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CCI
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CAclubindia
