For those trading in Derivatives, Futures & Options – How to Calculate Turnover to see if Tax Audit is applicable or not.

Guidance Note on Tax Audit u/s 44AB of the Income Tax, 1961 issued by ICAI helps us in understanding with how to calculate Turnover. Paragraph 5.14(b) deals with the same and the same is being reproduced for your reference. “Such transactions are completed without the delivery of shares or securities. These are also squared up…