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
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.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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CAclubindia
