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pallav vasavada (Querist)
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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....

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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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.
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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.
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Hope other experts will also come forward with their views.
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pallav vasavada

pallav vasavada (Querist)
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23 December 2011 Thanks sir for such Explanation...

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