Where can i find the Total Turnover for financial year , wanted to know if AUDIT is applicable or not.
Hi @pavz You can refer to the AGTS for computing the turnover. As a broker we computer the turnover as per the logic set up by SEBI which adds the Total Buy Value and Total Sell Value. However, from tax perspective there have been some changes by the IDT in reference to the turnover calculation. Tax consultants would help you in this regards. Tagging @quicko team here to put some light on it.
You will be able to see trading Turnover in your capital gains statement provided by your respective broker. Tax Audit is applicable depending upon some conditions, mainly based on the turnover.
Read more about the conditions for Tax Audit under Section 44AB of Income Tax Act - Learn by Quicko.
Hope this helps.