Comment on Taxation for Traders - Introduction

S S Subramanian commented on 02 Aug 2015, 10:06 AM

Dear Nithin,
My email is going to be long.I request ypu to be patient.
1. How do I calculate FO turnover? If I have understood correctly the net payment and receipts have to added up. One day I incurr a loss of Rs60000 and on another day I incur a profit of Rs50000, is my turnover is 110000 or -10000. If I have understood correctly my turnover is -10000.
2. During 2014-15 I have incurred a FO loss of about Rs 5 lacs, which is the turnover for that year. How can show a negative turnover in ITR4?
Is it possible to talk with you?

View the full comment thread »