Reporting f&o sale amount in other operating revenue of trading a/c
This query is : Resolved
23 July 2024
Dear Experts,
F&o sale amount is above 10 cr but absolutely turnover is below 10 cr.
Is it correct to report sale amount of f&o in other operating revenue of trading A/c.
Also let me know where to report absolute turnover of f&o in trading or p&l A/c
Thanks
F&o sale amount is above 10 cr but absolutely turnover is below 10 cr.
Is it correct to report sale amount of f&o in other operating revenue of trading A/c.
Also let me know where to report absolute turnover of f&o in trading or p&l A/c
Thanks
24 July 2024
F&O turnover can be calculated as the total income from F&O trading, which takes into account all the sum of profits and losses.
24 July 2024
Respected sir, I knew the absolute calculation of f&o turnover taking sum of profit & loss. But my query was, is it correct to reporting total sale value of f&o in 'other operating revenue' of trading A/c and total purchase value of f&o in serial 46 of p&l under 'other expenses'
However there is no column to report absolute turnover in trading & p&l. ??
However there is no column to report absolute turnover in trading & p&l. ??
24 July 2024
Purchase value and sale value of f&o not to be reported.
Report turnover as sum of profit and loss.
Report 6% turnover as profit under 44AD.
Report turnover as sum of profit and loss.
Report 6% turnover as profit under 44AD.
25 July 2024
Sir, my case is of f&o loss, if we report under 44AD, we cannot carry forward loss.
Hence we have to file financial, and in case of financial there is No separate column to report absolute turnover taking all sum of profit & loss. ??
Hence we have to file financial, and in case of financial there is No separate column to report absolute turnover taking all sum of profit & loss. ??
25 July 2024
Then report loss and carry over.
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