in case of FnO tranding, final result is over all loss turnover is less than 2crores and the person is filling the return 3 that means he is not filling the return under presumptive taxation scheme than also tax audit is compulsory????
or he can filling return of loss normally????
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FnO trading
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You may be aware that tax audit u/s. 44AB of IT act applicable when turnover of business exceeds Rs. 1Cr ...
my turnover is 32 lacs only which is less than 1crores.
In this particular case, if the aggregate income of the assessee exceeds BEL, than tax audit will be applicable.....
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