Futures & Options Return filing which Turnover exceeds 1 crore without Tax Audit

This discussion addresses whether an individual with Futures & Options (FnO) turnover exceeding £1 crore but incurring a loss can file their income tax return using Form ITR-3 without a tax audit. The query specifically asks if the clause for tax audit turnover not exceeding £10 crore can be applied, given that cash receipts and payments are less than 5% of total transactions. The consensus suggests that filing without a tax audit is indeed possible in this scenario.