How to compute turnover for intra-day share-trading ? ?

I am a retired person and do delivery based trading most of the times Due to volatility in the market, now a days, I indulge in intra-day trading. As given on some sites, if we compute intra-day turnover as valuation of purchase and sale of shares, then limit of 40 lakhs can exceed within short period and one faces tedious audit checking. Hence kindly advice how turn-over computation can be done in such a case.

 Learn Our Forex Trading Strategies and Systems, Get Live Forex Signals and Training In Our Live Forex Room Each Day. Sign Up For a 10 Day Free Trial of Our Live Forex Trading Room.

Please give me your email address and I can give a citation of a case decided by the Nagpur Bench of Incometax Appellate Tribunal indicating what should be the turnover in such cases.

sbala97@hotmail.com

This entry was posted on Sunday, November 27th, 2011 at 12:06 am and is filed under Day Trading Advice. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.