Turnover in this case is total profit +total loss in all transactions as I understand........ And I thought the turnover limit for audit is 60 lakh?
Because trading fno is treated as a business so normal business turnover rule applies........?
Because trading fno is treated as a business so normal business turnover rule applies........?
If I remember correct, from April 2012, it's 1 cr.
I don't know what you mean by "normal business t/o rule". If you mean, we have to take sale value as turnover for calculating t/o for derivatives trading, than its NO (up to my understanding).
Come on, we pay margin of 30k for NF (contract value is >3L) and
If a Bank Nifty option is trading @ .05 (5 paise), we pay just 1.25/- (One rupee and 25 paise), but it's notional value is >3L. That "rule" can't be applied here