Return of income

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

13 December 2012 One of my friend. who is a practising advocate.she makes her income under legal consultancy services say 2 lakhs per annum. Further since she has good knowledge of capital markets. She intends to trade in F&o (derivities segment). What will happen to P&L account if net profit from f&o trading is around 3 lakhs (the trading she may not do every day)
1. The purchase and sales of securities are shown in P&L and then N.P is calculated?
2 or only net profit is calculated manually and added as income from other source
3 is there any norms prohibiting as per advocates rules of practice not to trade in share
respected members may provide detail emphasis or any related rulings. Thanks to all

Querist : Anonymous

Querist : Anonymous (Querist)

14 December 2012 Open query