Tax Audit Requirement for No maintenance of Accounts


This query is : Resolved 

Quick Summary
If your intraday trading turnover is below the required threshold for a tax audit, you are likely exempt from maintaining formal accounts. This means you can proceed with filing your Income Tax Return (ITR) using the ITR 3 form, even without keeping detailed ledgers. This simplifies the tax filing process for smaller trading volumes.

(Querist)
13 August 2025 Hi My intraday trading details for FY 2024-25 are as follows-----
Total Sale value RS1445377
Buy Value Rs1434415
Turn Over( Absolute sum of Profit& Loss) is Rs. 32629
Net Profit Rs 10962,
I do not maintain accounts.
Am I exempted from Audit and can file ITR 3

13 August 2025 Yes, you are not require to audit books of accounts.
Yes. you can file ITR 3.

23 September 2025 Good luck....


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