Turnover
Definition
Total gross revenue from business or professional services before deducting expenses. Used to determine GST registration, tax audit, and presumptive income eligibility.
In Context
For F&O trading, 'turnover' is calculated as absolute sum of trading profits and losses (not just revenue). Different calculation methods apply to different business types.
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⚠️ Disclaimer: This glossary is for educational purposes. Simplify Money provides analytical insights and guidance. We have applied for SEBI RIA registration.