Total Premium 10000
Total Profit 3000
Total Loss 2000
Total Charges 200
Net P/L 1800
What will be Gross Turnover for Income Tax Purpose
From Gross Turnover how should we less the premium and loss to get the ultimate profit amount
If it is option trading then turnover will be 3000+2000.
If you are treating equity also as business income then actual sale value will be turnover
CAclubindia
