Audit for options trading turnover below 1 crore

This discussion addresses whether an audit is compulsory for options trading activities when the turnover is below 1 crore, specifically 50 lakhs in this case. The user, with a salary income and a loss from options trading, seeks clarification on reporting this loss and carrying it forward without a mandatory audit. The advice suggests that an audit is generally not required if Section 44AD was not declared in previous years.