I made Loss in fno but turnover is more than 1 crore, is audit necessary?

There is no need to get audited or to file return using presumptive income basis as the turnover doesn’t exceed the threshold. You can use ITR-3 for filing returns.

Hi Guys,

I have a salary income of 10 LPA and Loss in Options trading around 30K .So, now i am filling ITR 3.

As i joined the job in Oct month only, i want to avail new tax regime so up to 7.5 lakhs there is no tax.

And for next year i want to avail old tax regime for ITR 3.

My question is, Is that okay  to switch from new to old and how many times i can do that ?