This is absolutely fine. As long as your turnover is correct, need not bother much. Keep your turnover working handy in case a tax officer wants to verify the same during assessment.
Just one question though, how did you arrive at gross profit and expenses figures? If they are arbitrary, then better just report the same at gross profit level and ignore expenses.
Just one question though, how did you arrive at gross profit and expenses figures? If they are arbitrary, then better just report the same at gross profit level and ignore expenses.
Gross Turnover is the one shown via Zerodha. This includes the sale of premiums. There are so many contracdicting statements in net some are using just the p/l of each option leg. I went with conservative approach
Gross Expenses are what is shown in zerodha statements. This includes the brokerage etc
yes I tweaked the gross profits to make sure my net profits are above 6%. So you suggesting better to include that in net profits and make the expenses as zero. I think its a better Idea,, will do the same thanks
I am also hearing contradictory statements for maintaining the books. Some are saying we need to give detailed balance sheet and PL even if the turnover is < 2 crores and profit > 6% . Is it true or its fine just to fill the last sections of Balance sheet and P&L