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Reporting of turnover in 3cd
a person is dealing in f&o and has incur loss. the balance sheet will be prepared by showing net loss but will it be correct to show aggregar of (profit +loss) as turnover in 3cd. please guide.
Replies (15)
Quick Summary
Trunover only include future and options trading
or others too
for what source of income audit is done
or others too
for what source of income audit is done
Have GST?
Turnover is only of future & option
In loss of future and options there's no need of audit
Add all loss figure in absolute term and then check for threshold limit
Mr/Ms Smit Shah is right.
Respected experts thanks for guidance. actually in the case provision of section 44Ad(4) is getting attracted so audit is mandatory therefore i want to know what we will enter as turnover while preparing 3cd report.
In presumptive income for future and options trading for audit is if 2cr of trunover
is exceed otherwise not needed both in profit and loss
in case of normal if profit and loss trunover exceed 1cr then needed
now your trunover is
sales of a share minus purchase of a share minus all types of expenses related to it
is exceed otherwise not needed both in profit and loss
in case of normal if profit and loss trunover exceed 1cr then needed
now your trunover is
sales of a share minus purchase of a share minus all types of expenses related to it
MTM of debit and credit balance ko add karo. wahi turnover hoga.
Add loss and profit without minus and plus sign i.e. total in absolute term is the turnover.
Add loss and profit without minus and plus sign i.e. total in absolute term is the turnover.
Add loss and profit without minus and plus sign i.e. total in absolute term is the turnover.
Add loss and profit without minus and plus sign i.e. total in absolute term is the turnover.
Add loss and profit without minus and plus sign i.e. total in absolute term is the turnover.
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