Selection of itr for salary+2 properties (one self occupied and one letout)+fno trading income/loss

1. ITR 3

2. Depends upon your turnover & profit margin

3. Same as  ---- 2 ----

Dear Sandeep,

If your turnover for F&O is below Rs 2 cr and your profit is above 6% of the turnover, then you are not required to maintain profit & Loss account and BS. In this case, audit will not apply.

In case your turnover is above Rs 2 cr, then audit is applicable regardless of profit %

in case the turnover is below Rs 2 cr but the profit % is below 6%, then audit will apply.

The most critical thing - computation of turnover. In case you are not sure, refer to a Chartered Accountant.