Share trading
This query is : Resolved
pallav vasavada
(Querist)
03 December 2011
WHAT IS TURNOVER FOR SHARE TRADING IN EQUITY???
HOW TO CALCULATE TURNOVER FOR THE PURPOSE OF AUDIT ???
PLEASE GIVE THE EXAMPLE ALSO IF POSSIBLE....
HOW TO CALCULATE TURNOVER FOR THE PURPOSE OF AUDIT ???
PLEASE GIVE THE EXAMPLE ALSO IF POSSIBLE....
CA PARAS BAFNA
(Expert)
03 December 2011
Turnover in case of share trading is the Sales made by you on delivery basis. Scrips purchased today and sold on tomorrow will also be included in the turnover but intraday
share trading's sales/purchase is not considered for turnover. Only Profit or loss will form Part of the turnover.
.
Suppose Sales made during the year is 30.00lac, intraday profit is 1.30 and Intraday loss is .70, you may consider all these to form part of the turnover and it would be Rs 32.00 lacs.
.
Hope other experts will also come forward with their views.
.
share trading's sales/purchase is not considered for turnover. Only Profit or loss will form Part of the turnover.
.
Suppose Sales made during the year is 30.00lac, intraday profit is 1.30 and Intraday loss is .70, you may consider all these to form part of the turnover and it would be Rs 32.00 lacs.
.
Hope other experts will also come forward with their views.
.
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pallav vasavada
(Querist)
23 December 2011
Thanks sir for such Explanation...
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