In case of futures & options the turnover is considered for audit limit is turnover total of positive and negative realisations. I would like to know how we can present this turnover in profit & loss account? specially if the the actual sale of F & O is more than audit turnover limit. Shall we put the figure of actual turnover or the net realisation turnover?
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How to present futures & options turnover in itr form
Replies (2)
Net (aggregate of differential amount) realization.
Total of negative and positive difference ignoring negative difference. may call me. CA umesh kumar- 9717597230
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