Method of account

Dilip Datta Choudhury (Tax Practioner/Consultant)   (84 Points)

10 April 2021  

Hindu Undivided Family(HUF) have only source of income from share trading which include short term, long term and day trading on equity share. Total turnover around (+)/(-) Rs.1 crore. I draw accounts showing purchase & sale and other expenditure on mercantile basis and duly audited. Is the procedure is the correct procedure or any other method to be followed?

Please advise.