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ITR3 FNO LOSS

Tax queries 355 views 4 replies

Greetings,

My ONLY source of income is FNO trading.
Booked LOSS = 10 Lakhs ( Including Charges this year )
Total Turnover = 4 CR.
I want to File ITR3 & Carry Forward Losses, to offset them in coming years.

Does Tax Audit and Maintaining Book of Records required / Mandatory for me ? 
(OR) Since, Turnover is less 10 CR, Can I fill ITR3 myself without any Tax Audit?

Thank you

Replies (4)
Audit is mandatory for your books of Accounts as T/O is more then 1 Cr. Make sure you conduct audit on time so that you can carry forward your losses to next FY

Maintaining books are mandatory, but Tax audit not mandatory in your case.

Thank you Sir for the clarification .... :)

You are welcome.            


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