randomGuy Posted December 8, 2022 Share Posted December 8, 2022 FnO guys most likely would be filing itr3, could someone help me with a balance sheet query? Can I have just a separate business entity balance sheet where I would enter only the money invested in FnO ...(n not include my other personal assets like liquid cash, investments, immovable property) i heard the person need not enter personal balance sheet if income is less than 50lac... @velu @jusarrived Link to comment Share on other sites More sharing options...
velu Posted December 8, 2022 Author Share Posted December 8, 2022 18 minutes ago, randomGuy said: FnO guys most likely would be filing itr3, could someone help me with a balance sheet query? Can I have just a separate business entity balance sheet where I would enter only the money invested in FnO ...(n not include my other personal assets like liquid cash, investments, immovable property) i heard the person need not enter personal balance sheet if income is less than 50lac... @velu @jusarrived if your turnover in fno is more than 10 crore , we need todo audit .. its easy to cross that limit if you are trading regularly ie sell options worth 10 lakh and buy it back for 19 lakh .. turnover is 19 lakh kind ravishingravi and randomGuy 2 Link to comment Share on other sites More sharing options...
randomGuy Posted December 8, 2022 Share Posted December 8, 2022 10 minutes ago, velu said: if your turnover in fno is more than 10 crore , we need todo audit .. its easy to cross that limit if you are trading regularly ie sell options worth 10 lakh and buy it back for 19 lakh .. turnover is 19 lakh kind Pls help me with the balance sheet query If turnover is below 10 cr. ... Link to comment Share on other sites More sharing options...
velu Posted December 8, 2022 Author Share Posted December 8, 2022 11 hours ago, randomGuy said: Pls help me with the balance sheet query If turnover is below 10 cr. ... You dont show profits Incase IT dept reports , pay fine with interest Link to comment Share on other sites More sharing options...
randomGuy Posted December 9, 2022 Share Posted December 9, 2022 10 hours ago, velu said: You dont show profits Incase IT dept reports , pay fine with interest I understand you are joking ...but i file itr 2 as i don't do FnO...if I do FnO, i have to file itr 3 n make balance sheet... before filing, one has to have the knowledge of what is required... Link to comment Share on other sites More sharing options...
diga Posted Friday at 03:24 PM Share Posted Friday at 03:24 PM All AI stocks are booming... (NVIDIA , Marvell all up 25% in last 2-3 days). Any Indian companies ? Link to comment Share on other sites More sharing options...
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