Turnover defination for Tax Audit

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(Querist)
17 November 2008 What would constitute a turnover if a person carries on the business of day trading of shares / futures / options ?. Should net profit or loss be the turnover or gross sales / purchase be the turnover for the day.
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Deepak Agrawal

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Deepak Agrawal (Expert)
17 November 2008 Sales & NOT profit
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