15 July 2024
Should I be declaring my personal F&O profit in Trading Account -> Revenue from Operations -> Sales / Gross receipts of business -> Other operating revenues as "Profit from F&O trading"
Or, should it be in Profit and Loss -> Other income -> Any other income as "Profit from F&O trading"
Last year, I had loss from F&O and I had put it under Trading Account -> Direct Expenses -> Other direct expenses as "Loss from F&O trading"
15 July 2024
Thank you. Does this mean, any expenses/taxes paid (GST/STT/Stamp Duty/Sebi fees/exchange transaction charges/brokerage) also goes in Schedule Trading Account -> Duties and taxes, paid or payable, in respect of goods and services purchased
Last year I actually put the charges in: Profit and Loss -> Rates and taxes, paid or payable to Government or any local body (excluding taxes on income) and Profit and Loss -> Other expenses
CAclubindia
