How to present futures & options turnover in itr form

nilesh (PROPRIETOR) (208 Points)

14 March 2019  

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?