How to Calculate Turnover in Shares

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

15 January 2011 If Mr. A Sales Shares of Rs. 100 or

On Difference between purchase & Sales i.e. Profit or Loss of a specific shares

ACC Profit Rs. 100

Bhel Profit Rs. 50

L & T Loss Rs. 50

Turnover Rs. 200

or from where can i get deifination - How to calculate turnover for shares

Thanking you

Manmohan ACA, CS

Manmohan ACA, CS (Expert)
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15 January 2011 On the presumption these two are the only transactions during the year the turn over of the assessee will be Rs. 6 (Rs. 2 + Rs. 4). i.e., even if a transaction results in loss the diference between the purchase and sales will be taken for the purpose of calculation turnover for Income Tax Act. This is stated as net of sell and buy.