Audit applicability of ITR
This query is : Resolved
02 June 2025
Sir,
I've incurred 3000/ loss in intraday cash(non f&o) trading and my intraday turnover is 12,660/ . But my total income is more than 7,00,000. I would file ITR 3 for AY 25-26.
My question is:
Is there any way I can avoid audit ?
Thanks,
Shantanu
I've incurred 3000/ loss in intraday cash(non f&o) trading and my intraday turnover is 12,660/ . But my total income is more than 7,00,000. I would file ITR 3 for AY 25-26.
My question is:
Is there any way I can avoid audit ?
Thanks,
Shantanu
02 June 2025
Give up loss & declare 6% profit on TO of 12,660/-
03 June 2025
Under presumptive taxation u/s 44AD right sir ?
03 June 2025
Correct.
03 June 2025
Thanks sir for helping me out
03 June 2025
You are welcome.
05 June 2025
Sir, one more thing,is books of accounts necessary in my case then if opting out of audit u/s 44AD ?
THANKS
THANKS
05 June 2025
Books of accounts are not required to be maintained when you opt for presumptive assessment u/s. 44AD IT act.
05 June 2025
Thank you very much sir for your kind help
05 June 2025
You are welcome.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Clarification on Old to new regime - 10-IEA
- Capital gains-24.06.2025
- MP Minimum Wages Act
- Taxation under the head Salaries
- FNO transaction not reflecting AIS
- Return forms related
- Regarding to Gift Received from relatives
- Can ITR 4 be used for reporting LTCG - FY24-25
- RODTEP Annual Return
- TWO GST REGISTRATION FOR SAME BUSINESS
- Regarding Interest on Enhanced Compensation
- Whether in Notes to accounts shown as
- New GST Registration with 02 company
- In elgible ITC claimed in FY 2021-22 & 2022-23 is it to be paid through DRC03 or to reverse it
- Rent agreement prior to incorporating a Company
- REGARDING CAPITAL CONTRIBUTION BY PARTNER
- ITC 04 for Job work
- Best book for knowledge gain
- Affordable Logo Animation Studio
- Gratuity - Accounting
Trending Online Classes
-
Live Course on EPF & ESI Act - Mastercourse(With Govt Certificate)
Mr.Balamurugan Ranganathan16 June 2025
CAclubindia
