Glossary/ Tax
Tax
Turnover
For F&O, computed from the absolute profits and losses on each trade rather than from contract value. The number that decides whether a tax audit applies.
Where this comes up
Lessons that use the term in context, which is usually more useful than the definition on its own.
- What costs really take — Brokerage, STT, slippage and impact, added up honestly.
- Why F&O is business income — And what follows from that classification.
- How turnover is computed — The number that decides whether an audit applies.