How to calculate turnover In Case Of day trading?

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Old 29th July 2011, 11:41 AM
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Default How to calculate turnover In Case Of day trading?

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.

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