F&O Loss, Salaried Employee with taxable income, Audit Requirement?

vish k (12 Points)

15 December 2021  

I've been filing my audit for making loss in F&O trading for the last 3 years. My salary is taxable and my turnover in F&O is less than 1 cr. 

I never opted for presumptive income clause, and have been maintaining my books of accounts for F&O Trading.

This year, I am advised that under no section do I require to have an audit, but some of the online tax filing websites like cleartext and others have different opinion as can been seen from their example. 


example 2



Can someone please help me understand if I do or do not require to do to audit under what section, if applicable.


Thank you.