1) if a client does transactions in derivative segment then for tax audit purpose the turnover is :
a) the absolute sum of loss and profit ( 70 lakhs) ( if profit is 40 lakhs and loss is 30 lakhs)? or
b) the difference of profit and loss ( 10 lakhs) ( if profit is 40 lakhs and loss is 30 lakhs)?
2) if the client does transactions in cash segment then for tax audir purpose the turnover is :
a)if the client treats the transactions under business head:
i) the absolute sum of buy value and sell value ( 70 lakhs) ( if buy value is 40 lakhs and sell value is 30 lakhs)? or
ii) the difference of buy value and sell value ( 10 lakhs) ( if buy value is 40 lakhs and sell value is 30 lakhs)?
b) if the client treats the transactions under capital gains:
i) the absolute sum of buy value and sell value ( 70 lakhs) ( if buy value is 40 lakhs and sell value is 30 lakhs)? or
ii) the difference of buy value and sell value ( 10 lakhs) ( if buy value is 40 lakhs and sell value is 30 lakhs)?
iii) only sale value
3) If a client does transactions in derivatives as well as cash segment, then for tax audit purpose then how is the turnover decided?
a) the absolute sum of loss and profit ( derivatives )( 70 lakhs) ( if profit is 40 lakhs and loss is 30 lakhs)? or
b) the difference of profit and loss ( derivatives) ( 10 lakhs) ( if profit is 40 lakhs and loss is 30 lakhs)
c) if the client treats the cash market transactions under business head:
i) the absolute sum of buy value and sell value ( 70 lakhs) ( if buy value is 40 lakhs and sell value is 30 lakhs)? or
ii) the difference of buy value and sell value ( 10 lakhs) ( if buy value is 40 lakhs and sell value is 30 lakhs)?
4) If a client does transactions in derivatives as well as cash segment, then for tax audit purpose then how is the turnover decided?
a) the absolute sum of loss and profit ( derivatives )( 70 lakhs) ( if profit is 40 lakhs and loss is 30 lakhs)? or
b) the difference of profit and loss ( derivatives) ( 10 lakhs) ( if profit is 40 lakhs and loss is 30 lakhs)
c) if the client treats the cash market transactions under capital gains:
i) the absolute sum of buy value and sell value ( 70 lakhs) ( if buy value is 40 lakhs and sell value is 30 lakhs)? or
ii) the difference of buy value and sell value ( 10 lakhs) ( if buy value is 40 lakhs and sell value is 30 lakhs)?
iii) only sale value
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