how to calculate turnover of option trader in stock market for tax audit purpose?
and also how its income to be considered?
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Turnover for F&O trader
Replies (5)
Quick Summary
Turnover for future is sum of all positive and negative trade one add profit and loss
e.g Profit 10000 + loss 5000 = turnover 15000
turnover for options would be sum of profit, loss and sale premium
eg. Profit 10000 + loss 5000 + Sale price 40000 = turnover 55000
income will be treated as business income
e.g Profit 10000 + loss 5000 = turnover 15000
turnover for options would be sum of profit, loss and sale premium
eg. Profit 10000 + loss 5000 + Sale price 40000 = turnover 55000
income will be treated as business income
Yes, agree with Mr. Amish Maknojia
Mr. Amish, can you elaborate on option trade.
let's take simple example.
bought reliance option of 2000 at 50
sold same reliance option of 2000 at 60
what is turnover assuming only one trade.
let's take simple example.
bought reliance option of 2000 at 50
sold same reliance option of 2000 at 60
what is turnover assuming only one trade.
(2000*60)= 120000
+(2000*60)-(2000*50) = 20000
Turnover = 140000
+(2000*60)-(2000*50) = 20000
Turnover = 140000
Thanks a lot
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