Turnover calculation in case of Currency F&O trade.
This query is : Resolved
26 June 2023
As per latest tax audit guidelines published by ICAI in 2022 and applicable for AY 2023-24, the calculations of F&O turnover are clear. There is no separate exceptions in guidelines for currency F&O trade.
In most of examples given at various platforms and websites ,the illustrations on based with stocks F&O. And could not find specific reply of currency F&O trade. It creates question of what about Currency F&O trade.
1. Is that also covered under similar method of calculations for arriving at turnover amount ?
OR
2. . Does it need to add full value of trade instead of absolute P&L figures. ??
3. Is there any exception / separate guidelines for currency trade turnover amount calculations>>>..
Please guide on this issue.
In most of examples given at various platforms and websites ,the illustrations on based with stocks F&O. And could not find specific reply of currency F&O trade. It creates question of what about Currency F&O trade.
1. Is that also covered under similar method of calculations for arriving at turnover amount ?
OR
2. . Does it need to add full value of trade instead of absolute P&L figures. ??
3. Is there any exception / separate guidelines for currency trade turnover amount calculations>>>..
Please guide on this issue.
27 June 2023
Calculate the turnover same way share F&O calculated.
Message likes :
1 times
27 June 2023
Thank you Sir. Gives lot of enthusiasm to get reply from you.
27 June 2023
You are welcome..
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