SIR, IN CASE OF OUR CLIENT, HE IS TRADING IN DERIVATIVES . SALES -1900000 PURCHASE - 1800000 PROFIT MADE-100000 . TOTAL OF FAVOURABLE ANF UNFAVOURABLE DIFFERENCE IS 130000. HOWSHOW DETAILS IN ITR? AS PER ICAI GUIDANCE TURNOVER IS THE TOTAL OF FAVOURABLE AND UNFAVOURABLE DIFFERENCE . BUT THIS CALCULATION IS APPLICABLE ONLY IN CASE OF DETERMINING TURNOVER FOR THE PURPOSE OF APPLICABLITY OF TAX AUDIT LIMIT. HOW FILL ITR? SALE - 1900000 TO BE SHOWN IN SALES AND PURCHASE -1800000 AGIANST PURCHASE COLUMN IN ITR. OR 130000 TO BE SHOWN AS SALES AND PURCHASE COLUMN NIL. PLEASE CLARIFY?
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TURNOVER - DERIVATIVES
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What is your annual income?
annual income- pension - 960000
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