19 August 2008
Dear Sir, How to determine TURNOVER in case of intra day transaction (speculation)in shares. what is the turnover in the following illustration : 1-8-08 Loss 5000 2-8-08 Profit 1000 4-5-08 Loss 2000 5-5-08 Profit 3000 whether Turnover is :- i) (+) 4000 (i.e. only profit) ii) (-) 3000 ( i.e. profit less loss ) iii)11,000 (i.e. total of all profits and losses)
20 August 2008
The turnover in the given case will be Rs. 11000/-. The turnover from Jobbing or Derivative trading is determined by taking the sum of profits and losses.
CAclubindia
