Do audit is required for f&o ( options trade ) ??

As per sec. 44AD(5) of IT act, if your net income is above basic exemption limit, tax audit will be mandatory.

the turnover is to be calculated as under:

1. Sell side of Options Plus

2. Absolute value of all profits and losses.

This should ideally lead to a much larger turnover in your case. Once you cross 1 cr turnover but still below 2 cr, the only option for avoiding audit is to declare presumptive profit under 44AD. So ideally go for the audit regardless of any other opinion as it would cost much less than presumptive profit taxation.