Salary Income and 16 lakhs f&o loss audit required?

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71 Points Posted on 16 September 2023
assessee has salary income of Rs 450000 and incurred loss of Rs. 16 lakhs in f&o during FY 2022-23. f&o turnover 43 lakhs. Does assessee require to get audited??
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On 16 September 2023 at 00:25 Report
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Quick Summary
This discussion clarifies whether an individual with a salary income of ₹4.5 lakhs and a loss of ₹16 lakhs from Futures & Options (F&O) trading requires a mandatory audit. The consensus is that an audit is not required in this specific scenario, even with an F&O turnover of ₹43 lakhs.

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"Do the Right Thing...!!!"
128162 Points Posted on 16 September 2023
No, Audit not required.
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On 16 September 2023 at 07:08
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CA ipcc
449 Points Posted on 16 September 2023
No need for audit as mentioned by RAJA sir abive
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On 16 September 2023 at 10:45
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Profession
28271 Points Posted on 17 September 2023
Salary income of Rs.4.lacs and incurred loss of Rs.16 lacs in f&o
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On 17 September 2023 at 07:37
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"Do the Right Thing...!!!"
128162 Points Posted on 17 September 2023
Bassuuu,

Your st.... reply already in query...
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On 17 September 2023 at 08:46

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