F&O Turnover Calculator + Tax Audit Check
Calculate configured ICAI GN turnover and compare with audit threshold.
Visible formula
Σ absolute signed settlement differences + options-seller premium = turnover.
Printable IF / THEN decision path
- IF trade exists, THEN add absolute difference.
- IF options seller, THEN add premium.
- IF threshold crossed, THEN audit required; ELSE not required, but check cash %.
- IF loss carry-forward, THEN file timely.
FAQs
How is turnover calculated?
1. ICAI Guidance Note (GN) method: Turnover = sum of POSITIVE of favourable differences + ABSOLUTE VALUE of unfavourable differences (i.e., add profits and losses, both as positives)
Is premium included?
2. ICAI Guidance Note (GN) method: Turnover = sum of POSITIVE of favourable differences + ABSOLUTE VALUE of unfavourable differences (i.e., add profits and losses, both as positives)
What is threshold?
3. ICAI Guidance Note (GN) method: Turnover = sum of POSITIVE of favourable differences + ABSOLUTE VALUE of unfavourable differences (i.e., add profits and losses, both as positives)
Does loss need timely return?
4. ICAI Guidance Note (GN) method: Turnover = sum of POSITIVE of favourable differences + ABSOLUTE VALUE of unfavourable differences (i.e., add profits and losses, both as positives)
Which ITR?
5. ICAI Guidance Note (GN) method: Turnover = sum of POSITIVE of favourable differences + ABSOLUTE VALUE of unfavourable differences (i.e., add profits and losses, both as positives)
Is there divergence?
6. ICAI Guidance Note (GN) method: Turnover = sum of POSITIVE of favourable differences + ABSOLUTE VALUE of unfavourable differences (i.e., add profits and losses, both as positives)
Hub Guide · TDS Compliance
Go deeper — the TDS Compliance hub
F&O audit compliance overlaps TDS — the hub covers s.194 withholding rates, 24Q/26Q filing deadlines, TRACES reconciliation, and s.234E late fees — statute-cited.