44AB Audit and 271B

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Hi all,
one of my Client is a salaried person Having Salary of 24 lakh apart from this he is having loss under F&O transactions which is 1.5 lakh.
His T/o for f&O transaction is 1.5 lakh only (computed as per guidance note of ICAI).
I want to know :-

1. is the audit applicable to him u/s 44AB(e) bcz of claiming loss and having NTI > basic exemption limit.?

2. This is the case for AY 19-20 so if the tax audit is applicable then if we do audit now be which is by default not furnished before due date, can the 271B imposed on us because of delay in filling.?

3. If we file Audit report now Is this a sure shot case for scrutiny?

4. or do we need to pay penalty U/s 271B along with ITR on voluntary basis??
Replies (1)
For claiming loss, return needs to be filed within due date as per sec. 139


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