Tax audit

#1
Hey, i am n.ramadoss from chennai. Even though i was in share trading for the past 5 years, i have never done intraday trading so far. I would like to know from audit angle, what is called turnover for the purpose of tax audit in intra day trading. I heard two types of answers, one, total bill value of purchase and sale for the year and the other is total of total profits and losses made during the financial year. Which is right. Please guideme. Thanks.
 

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