I did extnesive search in this forum and outside but couldn't get the desired info., hence this posting. I have started trading in Options through ICICI Direct portal. For AY 2013-14, the audit is required for a turnover above 1.0 Cr and Ledger and P&L books are to be maintained. In my case these two things are maintained on the portal of ICIC Direct itself and can be downloaded/printed anytime.
the pages available on ICIC Direct portal are -
a) NSE FO Ledger- gives info. about the turnover.
b) FO P&L - gives info. about P&L but STT, Transaction charges, Stamp duty and Turnover charges are included.
They will seperate out in Expenses.
c) Sauda Summary Report - gives open positions of Options(aka stock in hand).
My query is, do I still need to maintain the books of account seperately in physical form or the ones available at the trading portal is permissible?
Looking forward to valuable inputs.
thanks & regards.
CAclubindia
