Put another way, nothing doing (2,2)
I believe the answer is:
up to
'doing' is the definition.
(as in 'what are you up to?')
'put another way nothing' is the wordplay.
'another way' indicates anagramming the letters.
'nothing' becomes 'o' (looks like zero - 0).
'put' is an anagram of 'upt'.
'upt'+'o'='UP TO'
(Other definitions for up to that I've seen before include "Plotting" , "Busy with" , "Incumbent upon" , "Capable of" , "working at > till" .)