Future and Option Turnover

Stat Audit 270 views 1 replies

136 Points Joined February 2011

Respected Members,

I have done trading in Future and Options during 2024-25.

Total Sales during year was 5.74 Crore, and Purchase was 5.73 Crore Profit is rs. 1.01 Lakhs.

I want to Ask what will be my turnover that will be shown in the Balance sheet and ITR form

should i show 5.74 Crore. or the total of Profit and loss figure.

Pls Reply.

Thanks

Replies (1)

Manager - Finance and Accounts

58708 Points Joined June 2010

Balance Sheet: Show profit of ₹1.01 lakh under P&L.
ITR: Profit ₹1.01 lakh taxable. Turnover can be gross (₹11.47 crore) if ITR asks, otherwise leave blank.
Audit (Form 3CD): Turnover = Sale + Purchase = ₹11.47 crore.

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