There r different comments on Turnover on trading. Kindly explain what value taken for TURNOVER in share maret trading for Delivery based Trading and non-delivery based trading such as Intraday, Future & Options and in Commodity Future Trading. I am a salaried person and did Trading in Future & Options, Commodity and incurred losses in F&O, Commodity & Intraday during FY:2012-13. If I dont want to claim any losses incurred in above trading can I avoid it reflecting in my ITR coz I have stopped trading now and wont be continuing for any gain in coming years.
1 Replies
Ankit Agarwal
(Chartered Accountant)
(35 Points)
Replied 03 July 2013
Mr. Kailash,
In case of Delivery based share transaction amounting to income under the head business, the turnover is actual sale consideration i.e. total of sales of all shares.
In case of intra day transactions and F& O transactions, you have to sum total the net profit and net loss (though loss is negative add in net profit) on daily basis to arrive at total turnover.
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