Future turnover calculation and implication

General
1

If I have bought 1 lot NIFTY FUT @ 14900 and sold at @ 14950 -
a ) Turnover is 2238750 (as seen in https://zerodha.com/brokerage-calculator/#tab-equities )
b ) P&L 3514.49

From what I understand , Turnover ‘a’ is what is used by exchanges for calculating the charges ; and ‘b’ is for tax (audit) calculations. Is this correct ?

Also , at the eod NSE will send an alert for the day’s traded value , is this same as the turnover we see in the brokerage calculator ?
What are the implications here ,since the "Turnover/Traded Value " is far larger than the PnL ?

Thank you.

2

@San78 Can you.

3

Yes, turnover ‘a’ is used for calculating STT and other charges.
Turnover ‘b’ is used for only for determining the applicability of tax audit.

4

Thank you @San78 .

So there are no implications of having large turnover ‘a’ apart from the charges incurred ?

5

@notabot

From tax perspective - there are no implications.
If turnover ‘b’ crosses 10 Crore - then tax audit gets applicable.

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