Query for Tax Audit

This query is : Resolved 
Quick Summary
If you've previously filed ITR 4 for salary and professional income but need to switch to ITR 3 for the current financial year due to share market losses, you might be wondering about tax audit requirements. A tax audit is generally not mandatory if you declare your business income under the presumptive scheme (Section 44AD) even when filing ITR 3.

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(Querist)
10 June 2024 Hi,

In F.Y 2022-23 we had filled ITR 4 for salary and professional income but this Financial year I have some lost from Share market so this year we need to fill ITR 3.but my query is this year we transfer ITR 4 to ITR 3,so we need to tax audit or not.
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
10 June 2024 No tax audit mandatory, provided you declare your business income under presumptive scheme (only if u/s. 44AD IT act) even in ITR 3.
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Aman Kumar

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Aman Kumar (Querist)
11 June 2024 Thank your sir for reply
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
11 June 2024 You are welcome.
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