What is the meaning of Turnover-is it total sales and purchases of Equities, Options, Futures,commodities etc?
For equities it is gross receipts that is total sales (pls confirm from others).
For FNO it is like this
Total of Absolute value of profits AND losses for all trades. Each trade can have a P or L. You have to add each trade's absolute value of P and L. Many places call this favouable (P) and unfavourable (L). P is always positive, so absolute value does not matter. Absolute value of Loss will also become positive. If you make 200 gain in one trade and -300 (loss) in another the total turnover is 200 PLUS 300 = 500 because Abs(-300) = 300
For options trading along with this you have to add the sell value of options. If your second trade of loss of Rs.300 mentioned above happens by buying one option lot for 2400 and then selling it for 2100 then your turnover will be
Absolute of gain or loss, here Abs(-300) = 300
Sell value of options = 2100
Total turnover = 2100 + 300 = 2400
I am not a CA, I have got help from here, so trying to help in whatever way I can, so please verify if in doubt