ITR3 for F&O Trading - Books of accounts & Balance Sheet

I am filing ITR3 for F&O Trading profits with no audit liability.

Income tax site says “If your income from business or non-specified profession exceeds Rs. 2.5 lakh, or the turnover of such business or non-specified profession exceeds Rs. 25 lakh, you are liable to keep and maintain books of accounts and other documents.”

This is the limit for Individual/HUF. So what is “income from business” in this case - Gross or Total? Total or net business income is after deducting expenses, right?

My turnover is <20 Lakh and profit is 3+ Lakh. After expenses, net business income is less than 2.5 Lakh and Salary plus other sources of 6 Lakh. So what is business income in my case <2.5 Lakh or 3+ Lakh? Or, should I take into account entire income including Salary for ascertaining this limit?

If I don’t need to maintain books, can I submit under “No accounts case”?

Filling Balance Sheet:

The ITR3 instruction says "The reported figures of the balance sheet should match with the audited balance sheet, in case the accounts were required to be audited. Any other activity not being accounted in the books of proprietary business or profession, need not be included in this balance sheet "

Do I need to include Mutual funds, Equity holdings, Bonds/Debentures, FD/other deposits , Property value, other assets etc in Schedule Balance Sheet since these are not directly related to business (i.e F&O Trading). Is filling only bank balance and demat a/c cash balance sufficient for F&O Traders?

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Can someone reply to above queries regarding “No accounts case” for net business income less than 2.5 lakh plus Salary and other sources of 6 Lakh

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