Intraday profit, speculation
Vijay Mohan (637 Points)
27 July 2022for tax audit is this is turnover taken.
Vijay Mohan (637 Points)
27 July 2022
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(170682 Points)
Replied 27 July 2022
Multiply the purchase value by the lot size and then multiply the sales value by the lot size.
The difference between this gives us the profit or loss, which is the turnover.
Add these absolute values to get total turnover, for future transactions.
Total Options turnover (across all the transactions done in a given year) = Total profit – total loss + total premium received for the sale of Options – total premium paid for the purchase of Options
CA Puja Sharma
(Chartered Accountant)
(4984 Points)
Replied 27 July 2022
The turnover for intraday - speculative trading is the aggregate or absolute sum of both positive and negative differences from trades
Rs. 12 Lakhs must be the profit after adjusting the losses.
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)