Turnover for Share Transactions

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Ankit Garg (Querist)
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24 August 2009 what will be the turnover in respect of 'share transactions'?
it will be sales value of shares or Profit/Loss occurred on the share transactions for the purpose of tax audit.

NISHIT A. DOSHI

NISHIT A. DOSHI (Expert)
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25 August 2009 TURNOVER=TOTAL VALUE OF SALES-TOTAL VALUE OF PURCHASE

WITH REGARDS,
C.A.NISHIT DOSHI

CA Shailesh +91 9393926464

CA Shailesh +91 9393926464 (Expert)
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25 August 2009 In my opinion, Turnover in case of F&O Business is

Sale Consideration Less Purchase Cost.

However, in case of Trading in Shares, Turnover is "Sales Consideration" only

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