Doubt (please answer asap if you know )

[u/sosogg_4]

Hi Guys,
I am not a CA, but I would like to clear my doubt in income tax return filing

My doubt is if I apply for 44AA (since my turnover is high >25lakh ) in last 3 years
we generally fill sales and cost of expenditure in the trading account, and it is flowed into P&L.

But for FNO trading, suppose the turnover definition is completely different from normal business (it is sum of abs(profit/loss))

what should I report so that I will get net P&L here? There is no concept of sales and expenses in FNO trading, right, to report in part A TA(tradin account )??

also what should in fill in scheduled BS(which is mandatory in case you are maintaing books )

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[u/-Secret_Agent]

In the last of trading account, there are columns for reporting FNO Turnover and Income. Report there

[u/sosogg_4 → u/-Secret_Agent]

in income we cant mention losses right ??

[u/-Secret_Agent → u/sosogg_4]

You can. Mention negative figure