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Computation of income tax of f&o trader

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(Querist)
13 August 2015 how to calculate Turnover [with Example] of Derivatives Trading? What is Turnover Limit for maintaining books of Account? What are Expenses can be booked? If Somebody can provide Computation of IT, it will be great help?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
13 August 2015 For computation of IT approach the CA near by.
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CA Ayush Agarwal

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CA Ayush Agarwal (Expert)
13 August 2015 Turnover = Total Profit Side + Total Loss Side.

Turnover Limit - 1 Crore, else Audit is Applicable,

Moreover need to maintain 8% profit, else 44AD too applicable to impplied audit u/s 44AB.
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
19 April 2019 just to add. For options, you need to add the sell side also to the absolute values of profit and loss to arrive at the options turnover.
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