F&O turnover Calculation?

How can we calculate turnover in F&O trades?
Which IT section is applicable in calculating turnover and taxation on F&O trades?
Can we square of it with equity trades?

Hello @Dushyant_Saraf_Aggar ,

The turnover in case of F&O Trades is calculated as follows:

  • Turnover of Futures = Absolute Profit
  • Turnover of Options = Absolute Profit + Premium on Sale of Options

Absolute profit means sum of positive and negative differences.

Also, you can refer the below guide for detailed explanation of F&O turnover calculation:

Also, you cannot square off F&O Income/Loss against equity Income/Loss since equity gain/loss is disclosed under Income Capital Gains whereas income/loss from F&O activities is shown under Profit & Gains from Business and profession.

Hope it helps!