Is it mandatory for FnO traders to maintain books of accounts for Options trading? Or will the CA prepare the same at the end of the year?
Also what books are to be maintained for the same? Thanks!
2 Replies
Others
(7 Points)
Replied 13 June 2021
I think, you have to just collect the final p&l figure for cash, intra, fno etc separately that's it.
sabyasachi mukherjee
(27574 Points)
Replied 14 June 2021
IT DEPENDS ON THE VOLUME OF TRANSACTIONS.
THOUGH IT IS NOT MANDATORY TO MANTAIN BOOKS OF ACCOUNTS AS DESIRED .BUT ITS OPTIONAL.
THE INCOME TAX ACT AND OTHER ACTS HV MADE IT FOR ORGANIZATIONS/ LLP_ _/SOLE PROPRIETOR OR ANY OTHER FORM OF BUSINESS TO MAINTAIN BOOKS OF ACCOUNTS AS PER THRESHOLD LIMIT.
THOUGH IT IS OBLIGATORY.
THOUGH IT IS NOT MANDATORY TO MANTAIN BOOKS OF ACCOUNTS AS DESIRED .BUT ITS OPTIONAL.
THE INCOME TAX ACT AND OTHER ACTS HV MADE IT FOR ORGANIZATIONS/ LLP_ _/SOLE PROPRIETOR OR ANY OTHER FORM OF BUSINESS TO MAINTAIN BOOKS OF ACCOUNTS AS PER THRESHOLD LIMIT.
THOUGH IT IS OBLIGATORY.
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