Comment on Business Line: Read Section 44AD when filing return
commented on
31 Jul 2013, 07:29 AM
“Turnover in this context would means settlement turnover and not contract turnover”.
What is the difference can you please explain.
Suppose when nifty trading at say 6000, I buy 1000 Nifty option @ 100 and sell @ 110 for a gain of Rs. 10/-
What will be my turnover
100*1000 = 100,000 (buy)
110*1000 = 110,000 (sell)
or 210,000 total
or it will be (assuming nifty spot was trading at the same level for buy / sell)
6000*1000 = 60,00,000 (buy)
6000*1000 = 60,00,000 (sell)
or 120,00,000 total