Clause 40 3cd in case of f&o turnover ratio

This query is : Resolved

Mandeep Singh (Querist)
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23 September 2024 Which amount fil in clause 40 3cd as turnover for ratio
1. absolute turnover
2. As per pnl credit side (revenue from others)

Manish

Manish (Expert)
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23 September 2024 Turnover: The aggregate amount for which sales are effected or services rendered by an enterprise. The terms gross turnover and net turnover (or gross sales and net sales) are sometimes used to distinguish the sales aggregate before and after deduction of returns and trade discounts.

Source: Guidance Note on Tax Audit under Section 44AB of the Income-tax Act, 1961 (Revised 2023) (https://kb.icai.org/pdfs/PDFFile664ad875b49bb0.41546228.pdf)