Future and Options Audit

All the expenses related to transaction, along with demat account charges, proportionate office expenses like internet connection telephone bill etc. are deductible...

For the purpose of determining the turnover in case of future and options , for the purpose of 44AB , based on the guidance note of ICAI, following items should be considered to constitute turnover:-

•  The total of positive and negative differences
• Premium received on sale of options is also to be included in turnover
• In respect of any reverse trades entered, the difference thereon But not the total value of contract.