Poonawalla fincorp
Poonawalla fincorp

Futures & options

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(Querist)
11 July 2013 Dear Experts,

I have a query on Futures & Options. How to determine turnover of F&O While conducting audit? Further, whether section 44AD of IT Act. will attract F&O transactions as trading in derivatives is a business activity?

Seeking for your guidance
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
16 July 2013 You need to show as all the transactions total as turnover. and f&o business covered under sec.44AD
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Mitul Shah

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Mitul Shah (Querist)
06 January 2014 Thanks Mr. Ramesh Krishnan.....
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