Computation of turnover in case of futures and options trans

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Querist : Anonymous

Querist : Anonymous (Querist)

18 June 2016 My one of the client is dealing in Trading of Shares--- Is 44AD Applicable to such business?
Further what is the calculation of Turnover in case of Futures and Options Trading?Please provide any illustration for the same.
Also Provide Provisions related to set off and carryforward of Losses in case F & O is treated as normal business Income.

Amol S Joglekar

Amol S Joglekar (Expert)
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18 June 2016 positive value of derivative transactions.......difference between sale and purchase

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Kaushik Joshi

Kaushik Joshi (Expert)
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19 June 2016 Dear Anonymous, yes your client is hit by provisions of 44AD. for calculation of turnover of f&o, take the net value as told by Amol Joglekar Sir

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Querist : Anonymous

Querist : Anonymous (Querist)

29 July 2016 Ok, Thankyou both of you.

Amol S Joglekar

Amol S Joglekar (Expert)
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29 July 2016 you are most welcome.