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Audit require

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(Querist)
01 March 2020 I have total income only ₹ 1,00,000 (one lakh) from salary head and I have loss from intraday trading ₹ 10,000 (ten thousand) and my trading turnover ₹25,000 (twenty-five thousand) then I have audit is required. I don't want to carry forward my losses?
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Shrikant Toshniwal

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Shrikant Toshniwal (Expert)
01 March 2020 No audit under IT
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Eswar Reddy S

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Eswar Reddy S (Expert)
02 March 2020 It's not your wish to carry forward loss. You must submit true particularls.. As you know ,if you know intraday trade with 5*times to 20*times of your margin money.AIR will go IT dept.You would receive a notice from IT dept for sure. Since the intraday loss comes under business category.You must get your accounts audited
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Aashok Kumar Sharma

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Aashok Kumar Sharma (Expert)
31 August 2020 Audit is not mandatory as turnover limit does not exceed.
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