Options trading and itr-4

rajiv modi (Share and Options trading)   (34 Points)

13 October 2012  

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.