this was a comment and question for nithin’s answer, but not sure of getting reply so thought to write this as question.
hello nithin, this is very confusing, everywhere i found gross recipt is total turnover. in futures its total profit plus loss. now you mentioned you take only profits. if i take positive turnover (profits) only then my profit is more than 8% of turnover and if i take profit plus loss my profit less than 8% . as my total income is below taxable limit, can i file it using itr 4 without audit? please tell me is following correct? in itr 4 no account case part A BS- sundry debtors-0 sundry creditors-0, stock in trade- i had no postition equity or futures so - 0, amount of the cash balance - ie ledger balance as on 31 march in zerodha ac. ( and for debtors creditors should we write 0 or leave it blank?) in p&l gross profit include 60 day challenge brokerage refund? or we have to show that brokerage refund anywhere else? i would be very thankful if you able to answer all these questions before 31st aug last date of filling return.