F&O Trading - When Tax audit - What will be income
This query is : Resolved
14 March 2010
In case of F&O Trading, what figures of trading amount will be taken as tax audit and when/what will be the income
14 March 2010
The sum of both negative and postive difference notes issued by stock broker will constitute turnover for tax audit point. Refer ICAI guidance note on tax audit u/s 44AB. The net of negative and postive difference notes will constitute income
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15 March 2010
In case of F&O, only entry on the date of transaction have to be taken in to consideration.
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