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Calculation of turnover in intraday trading & delivery base trading

YASHWANT GOYAL (student) (36 Points)

01 January 2021

Please guide about turnover calculation in both trading forms and audit limit for AY 2020-21.

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ayusmita (Tax consultant) (5885 Points)
Replied 02 January 2021

In my opinion simply ask for capital gain statement for ay 2020-21 as time is less for calculation
indraday calculation formula
selling minus purchase minus all charges or expenses
audit limit is 5cr it is same as per normal limits
if you are seeing their portfolio turnover that is different and calculation is different
in share trading intraday trunover is addition of both multiple of quantity of enter and exit price
means if entery price of 20sh in 32 and exit of 20sh in 40 then my trunover will be
(20* 32)+(20*40) = trunover
but it is not taken in consideration of itr for intraday

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