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Turnover in case of F&O
How to determine turnover and purchase cost in case of F&O?
Replies (5)
In this case, since the transactions in shares are non-delivery based, it is only the net of the sales and purchases that is to be treated as turnover.
Turnover of F&O is to be determined as follows –
- The total of favorable and unfavorable differences shall be taken as turnover
- Premium received on sale of options is also to be included in turnover
- In respect of any reverse trades entered, the difference thereon should also form part of the turnover.
If the total of favorable and unfavorable differences is the turnover, then how about purchase, is it difference of turnover and profit
Refer: turnover-balance-sheet-and-pl/
or in short /tax-on-f&o/
Sir, my turnover is 28lakhs as per above method, but my actual loss was 2.5lakh. So what are the expenses I can claim from 28lakhs to get loss of
To get loss of 2.5lakh
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