how to compute turnover

How to Compute Turnover in Case of Futures & Options, Day Tradings ?

The computation of business turnover is very important because many provisions applies on the basis of business turnover. For example, whether a business persons can opt for presumptive scheme u/s 44AD depends on the fact if the turnover is below 1 Crore. Similarly, the burden of tax audit also depends on the quantum of turnover….