Futures Turnover for ITR-4

342 views
User Avatar

Article
148 Points Posted on 03 September 2023
for filing itr-4, gross turnover of futures for calculating 6% net profit will be "sale value of futures" or "sum of positive value of profit & loss of futures" ??
0 Reply Share Follow
On 03 September 2023 at 15:12 Report
Replies (3)
Quick Summary
This discussion clarifies how to calculate gross turnover for futures when filing ITR-4. It addresses whether the 'sale value of futures' or the 'sum of positive and negative profit & loss' should be used to determine the 6% net profit. The selection of the correct ITR form depends on income source, gross total income, and the nature of the assessee.

User Avatar

CFO- at NHTF
58280 Points Posted on 03 September 2023
Sum of positive+ negative will be considered as turnover
Reply
On 03 September 2023 at 20:31
User Avatar

Profession
28271 Points Posted on 04 September 2023
Selection of itr is based on three components:
1. source of income
2. gross total income
3
nature of the assesse.
Reply
On 04 September 2023 at 07:15
User Avatar

CFO- at NHTF
58280 Points Posted on 04 September 2023
Question is about turnover
Reply
On 04 September 2023 at 07:18

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. Criteria to hire an article
  2. Guidence requested for a Finance Professional with
  3. Expert Opinion Required – Form 140 Gross Amo
  4. WRONG TAX DEMAND - formal responses , rectificatio
  5. Foreign remittance
  6. Affordable Residential Flats in Gurgaon
  7. Manufacturing
  8. TAN REGISTRATION ON E-FILLING SITE
  9. Form 10-IEA – Continuing Old Regime
  10. Income tax act 2026

More recent discussions | Post

Related Topics :

Loading