Calculation of turnover for share trading

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Rakesh Sharma (Querist)
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11 March 2017 dear experts,

please advise me how to calculate turnover for audit purpose as per given below details :-
1. how to calculate turnover for audit purpose when we purchase and sale shares on same day i.e. future & option.
2. purchase and sale of shares on different day and STT is paid. holding period below 1 year
3. purchase and sale of shares on different day and STT is paid. holding period above 1 year.

please guide me and advise as per serial number.

thanks regards,

rakesh kumar

CA DHAVAL MISTRY

CA DHAVAL MISTRY (Expert)
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13 March 2017 In case of Trading in shares and securities, for the purpose of section 44AB
a) Profit / Margin earned is to be treated as Turnover in case of Intra-day sale and F&O Trading
b) In case of STT Paid and shares sold within 1 year, sale amount of shares is to be considered as turnover u/s 44AB
c) In case of STT Paid and shares sold after 1 year, Sale amount of shares is to be considered as turnover u/s 44AB
You will not get the benefit of long term capital gain exemption in case of business income.

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Rakesh Sharma

Rakesh Sharma (Querist)
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14 March 2017 thanks a lot sir

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