How can i know P/L from this image

Happy_Singh

Happy_Singh

Happy
#61
#61
tradertrader said:
For all non-speculative transactions, the article says that turnover to be determined as follows –

The total of favorable and unfavorable differences shall be taken as turnover
Premium received on sale of options is also to be included in turnover
In respect of any reverse trades entered, the difference thereon should also form part of the turnover.

So if you buy 25 units or 1 lot of Nifty futures at 8000 and sell at 7900, Rs.2500 (25 x 100) the negative difference or loss on the trade is turnover.

In options, if you buy 100 or 4 lots of Nifty 8200 calls at Rs.20 and sell at Rs.30. Firstly, the favorable difference or profit of Rs 1000 (10 x 100) is the turnover. But premium received on sale also has to be considered turnover, which is Rs 30 x 100 = Rs 3000. So total turnover on this option trade = 1000 +3000 = Rs 4000.
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Nicely put

With Futures/Cash intra the Difference in Buying and Selling price is Turnover

With Options the Difference in Buying and Selling price plus the full Premium Received from Sell side is the turnover


Happy :)
 
nac

nac

Well-Known Member
#62
#62
oi trader boi said:
Sir,Total contract notes are almost 250 Pages(250 trading days if traded all days).Its like a book.When ledger/P&L statement has everything,why contract note needed?
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That's what was my auditor asked for when auditing. I pretty much provided everything in softcopy and some I showed the original.
PUCHU_2500 said:
Xray sir is a CA, we may ask tax related matters to him to find a solution.....
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Already, he feels that he's getting more PMs and taking off from his thead. Now his inbox gonna overflow with taxation questions :D
 
XRAY27

XRAY27

Well-Known Member
#63
#63

Documents required for IT

1.Bank statement all bank in which you got accounts

2.Broker ledger and P&L statement

3.Scripwise position/ledger

for part time traders Form 16 for salary ,Form 16 A for interest income (applies to full time trader) Proof of any other income source (if any)

as if Contract notes are not necessary..off course every CA adopts his own way of auditing .
 
Last edited:
XRAY27

XRAY27

Well-Known Member
#64
#64
nac said:
That's what was my auditor asked for when auditing. I pretty much provided everything in softcopy and some I showed the original.

Already, he feels that he's getting more PMs and taking off from his thead. Now his inbox gonna overflow with taxation questions :D
Click to expand...
Yes !!! Don't need any PM just post your queries if any i will answer!! and thread was not stopped it was paused ,some complex setups are there ...and it will take lot of time in posting and clearing doubts..Once time is available i will continue that,content which i updated was enough for earning IMO ;)
 
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