Chartered Accountant
80 Points
Joined December 2009
As per the Guidance Note issued by ICAI, the aggregate of favourable and unfavourable differences in each transaction is to be considered for turnover. Plus premium received on selling options. That is, take the difference of each transaction.(positive or negative is irrelevant). Take the total of those differences. Also, if option is sold, the premium received is also considered as turnover.