Turnover

sale value of shares + total of intraday(squared-up) transactions

that will be sale value of shares

Mr. Milan is right. In case of Delivery based transactions, it will be the total amount Shares sold, while in case of Derivatives (futures and options), it will be the net profit or loss (i.e. squared up amount - irrespective of profit or loss). Therefore, even if there is profit from some Derivative trading and loss from others, both will be considered for arriving at Turnover, irrespective of the sign ( + or - )

 It is also interesting to note that if a person does only derivatives trading and if he incurs a loss, then there will be a NEGATIVE TURNOVER because of provosions of IT Act. IT has been held in a case. I dont remember

good going friends

WHAT IS COMPOSITION SCHEME?

WHAT IS HIGH SEAS PURCHASE AND SALES?

WHAT ARE THE DOCUMENTS NEED TO BE CHECKED IN CASE OF IMPORT AND EXPORT OF GOODS?

HOW IS CUSTOM DUTY CALCULATED?

HOW IS EXCISE DUTY IS CALCULATED?

WHAT ARE THE CRITERIA FOR A PERSON WHO IS DEALING IN SHARES FALL UNDER TAX AUDIT?

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