F & O Loss Audit Requirement

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Javed Memon (Querist)
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05 August 2025 Respected Sir,
I have Filled ITR 3 For A.Y. 2024-25 For Salaried Person
Declared income
Salary income after standard deduction 4,92,000 and Claim 90,000 F & O Loss
and one More other income i.e. small Business income of Rs. 2000 (10,000*20% u/s 44AD)
So Net Taxable Income For A.Y.2024-25 is Rs. 4,90,000 and 88000 loss of F& O carry Forward

My question is for A.Y. 2025-26

F & O loss is 1,50,000 so for claiming Loss audit is Mandotory or not because Prevoius year i have declared small business income u/s 44ad and also that income declared under 44ad is not related with F & O business

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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05 August 2025 You are filing the business income under 44AD this year also. While for F&O loss the books are maintained, hence tax audit is not mandatory unless turnover of the F&O is more than 10Crs.

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