Derivatives Income

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

17 December 2010 In case Proit & Loss is as Under , How to show Turnover and Net profit
A -10,0000
B -20,000
C Loss 15000
D Loss 12000

What i show in return as Gross Receipts/Turnover and in case Turnover 57,000 how the difference will be shown to arrive at Net Profit Rs 3,000??

Aditya Maheshwari

Aditya Maheshwari (Expert)
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17 December 2010 Show profit of Rs. 3,000/- only in P & L. for turnover purpose only the turnover is Rs. 57,000/-.

Querist : Anonymous

Querist : Anonymous (Querist)

17 December 2010 My question is How to show
Gross receipts/Turnover as Rs 57,000
Net Profit as Rs 3,000
Difference amount 54,000 under which Head/Particular??

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Aditya Maheshwari

Aditya Maheshwari (Expert)
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18 December 2010 no head. show profit as 3000

Querist : Anonymous

Querist : Anonymous (Querist)

18 December 2010 what exp can i claim fro the income
and what in case i need to maintain accounts, i will be required to show whole figure as how i have arrive at profit???