Computation of FNO Turnover under Sec 44AB

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  1. VijayKumarblore

    VijayKumarblore New Member

    Hello Sir,

    In your article @ http://www.charteredclub.com/tax-on-fo/, I see that there are 3 conditions to determine the FNO turnover. You have provided an example for condition (1). Can you please provide an example for conditions 2 and 3 so that it is clear to readers like me?

    Specifically, why should premium received on sale of options be considered for turnover? In a Buy-Sell FNO transaction, should the SELL part be considered as part of condition (2)?

    Similarly, can you give an example of condition (3), showing what a reverse trade is?

    Would be hugely obliged to get a clear reply. Many Thanks.

    Regards,
    Vijay
     
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