How to calculate turnover In Case Of day trading?

Discussion in 'Taxation Matters' started by sameer7, Jul 29, 2011.

  1. sameer7

    sameer7 New Member

    Joined:
    Jul 27, 2011
    Messages:
    4
    Likes Received:
    0
    Trophy Points:
    1
    I have come across various methods for doing this. Should it be the value of purchase or sale or only difference between the purchase and sale be taken for computing turnover for the purpose of tax audit u/s 44AB of the I T Act.

    I have come across posts which say it should be the difference, but those are dated.

    http://taxworry.com/when-should-you-get-tax-audit-done-in-case-of-day-trading-of-shares/


    Has there been a change since then. Could someone please clarify.
     
Loading...

Share This Page