Comments on Trading Steps: Trading Turnover

sir,today i receive exlent spech of on cnbc awaj b...

2010-07-31T22:46:49.711+05:30

sir,today i receive exlent spech of on cnbc awaj best luck

Dear Sir, Today morning I heard u on CNBC Awaz te...

2010-07-28T21:36:01.674+05:30

Dear Sir,

Today morning I heard u on CNBC Awaz telling to buy Nifty near 5400
Sir, my reading was different I was thinking that short term trading indicators are pointing towards correction Nifty is not moving above 5450 and there is huge negative divergence on MACD & actully given a sell signal so as per my reading it was a sell with S/L 5450 I got confused hearing u please tell me what was your reading.
Thanks
Nitin Damle

For Sudarshan & All, I am advising this as a T...

2010-07-28T20:29:21.349+05:30

For Sudarshan & All, I am advising this as a Tax Consultant being a Chartered Accountants regarding turnover in case of trading in Futures & Options
The meaning of turnover for in case of transactions in Futures and Options of shares is not defined under the I T Act In case of derivative trading-Futures and Option- the difference on which the contract is purchased or sold is important. Although the value of contract is number of contract multiplied with the shares price , yet what is actually given or taken is differential amount in contract. For example if you purchase a future contract for Rs 105 for a share having a lot of 100,you pay nothing at the time of buying a contract, yet at the time of expiry if contract , you are either gainer or loser which is determined whether there is positive or negative difference. So , for the purpose of determining the turnover in case of future and options , for the purpose of 44AB , based on the guidance note of ICAI , following items should be considered to constitute turnover:-

· The total of positive and negative differences , plus
· Premium received on sale of options is also to be included in turnover ,plus
· In respect of any reverse trades entered, the difference thereon
But not the total value of contract.

Thank you Mr. Sudarshan.

2010-07-28T12:28:53.247+05:30

Thank you Mr. Sudarshan.

It all depends upon how you make enteries in your ...

2010-07-27T21:11:14.003+05:30

It all depends upon how you make enteries in your accounts books. If you debit 100000 when you buy and credit 100500 when you sell then the turnover comes to 200500 but if you just credit 500 as profit arising out of your purchase and sale of one nifty then the turnover would be counted as 500