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Itr for future & option : speculative business

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(Querist)
18 July 2019 MY QUESTIONS ARE

1. HOW TO CALCULATE TURNOVER
2. IF LOSS OR PROFIT LESS THAN 8% OF TURNOVER, THEN AUDIT APPLICABLE OR NOT
3. WHICH ITR.

THANKS IN ADVANCE FOR YOUR REPLY
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
18 July 2019 1 Turnover is aggregate of loss and profit earned.
2 Yes provided taxable income earned.
3 File ITR 4 on presumptive basis else file ITR 3.

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