Does turnover calculation remain same for option selling like its there in option buying?
If not , please help with an example.
Also , Can you please clarify if Tax is on Net Income(Positive Profit + Negative Loss - Expenses) or option turnover ?
Hi @Chetan_Bajaj, the tax is levied on the net income and not on turnover. I have created an example which will help you in understanding turnover calculation below. Let me know if you need any further help. 
| Buying Premium | Selling Premium | Profit/(Loss) | Absolute values | Turnover (Selling Premium + Absolute value) | |
|---|---|---|---|---|---|
| Option 1 | 10 | 12 | 2 | 2 | 14 |
| Option 2 | 12 | 10 | -2 | 2 | 12 |
| Option 3 | 8 | 0 | -8 | 8 | 8 |
| Total | -8 | 34 |
Much Thanks @Yash_Kaviya . Above table is very clear in case of option buying.
One last confirmation , so calculation of turnover will remain same in option buying as well as in option writing , right?
Always welcome @Chetan_Bajaj, yes even in case of option writing the turnover calculation shall be same.
@Yash_Kaviya I want to file my income tax for previous financial year i.e. Apr-21 to Mar22. Can someone get in touch with me , please?
Hey @Chetan_Bajaj
Sure. We can help you with your tax filing. Someone from our team shall get in touch with you soon.
Kindly raise a ticket and provide us with your contact details here - Raise a Ticket