Tax

Turnover Certificate

Also known as: F&O Turnover Certificate, Trading Certificate

Document provided by brokers showing calculated turnover for F&O trades as per tax requirements.

Detailed Explanation

A turnover certificate is issued by brokers to help F&O traders with tax filing. It shows the turnover calculated as per tax department guidelines (sum of absolute profits and losses), which may differ from the broker's P&L report. This certificate simplifies tax compliance for derivatives traders.

Related Terms

Turnover

For F&O taxation, the sum of absolute profits and losses from all trades during the financial year.

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Futures and Options

Financial derivatives that allow trading based on future price movements of underlying assets.

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