Futures accounting treatment

Dear Mr. Nagesh,

I think you have not cleared what you exactly want to know. Are you talking about investment in Futures & Options market? If it is so, as per income tax Futures & Options market turnover, whatever is net profit and loss from any transaction, you can book net amount as profit and loss and for turnover.

Rgds

Dear Sir

We have a client who is a company and is trading in futures

My query is,

What should be taken as turnover in case of trading in futures as per Companies Act

Is it the Contract note value / Profit from Trading / Margin