Turnover for f and o

This query is : Resolved

Guest

Guest (Querist)

08 January 2016 The turnover for F and O is to be taken as: The total of positive and negative differences , plus Premium received on sale of options is also to be included in turnover ,plus In respect of any reverse trades entered, the difference thereon But not the total value of contract. Can you please explain with respect to this case how the turnover should be taken?

FUTIDX NIFTY 26FEB2015

Transc date TR TYPE BUY SELL RATE NET AMOUNT

09/01/2015 C 200 8310.3 -1662060.00
09/01/2015 O 200 8310.3 1662060.00
09/01/2015 C 200 8366.45 -1673290.00
12/01/2015 O 200 9409.6 1881920.00
22/01/2015 C 200 8409.6 -1681920.00
22/01/2015 O 200 8366.7 1673340.00
22/01/2015 C 200 7366.7 -1473340.00
22/01/2015 O 200 8358.05 1671610.00
28/01/2015 C 200 8559.55 -1711910.00
26/02/2015 O 200 8559.55 1711910.00

Net profit/loss 398320.00

This is just for one month. should the turnover be 398320/-?

Bec if i take all the + and - figures for each date, it will cross 1 crore.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
Follow

08 January 2016 For knowing the turnover, do not net off Profit/loss. Take absolute value of the loss as a positive number and add with the profit. That will be deemed as turnover.

Message likes : 1 times

Guest

Guest (Querist)

08 January 2016 So, in the above case on 26/2/15 the profit was 398320/- and for other settlements (eg for jan the loss was -89560, for March profit 20000) then turnover is 398320+20000+89560 = 507880?
Kindly clarify.

Upgrade to CAclubindia Pro. Subscribe Now!