Fellow CA
86881 Points
Posted on 01 April 2024
if you are filing ITR-4, then you need to show 6 or 8% profit, as the the case may be. There is no compulsion to show loss. And if you are showing presumptive profit, there is no need for any audit anyway.
In case you choose to show actual loss, you need to file ITR-3. Audit won't apply in this case though.