TAX AUDIT IN CASE OF LOSS OF SPECULATIVE BUSINESS(LOSS OF INTRADAY TRADING) HAVING SALARY INCOME

This discussion addresses whether an individual with a loss from intraday trading, alongside salary income and short-term capital gains, is liable for a tax audit. The consensus is that if the total income does not exceed Rs. 1 crore and there's a loss from speculative business, a tax audit is generally not required. The individual can file their Income Tax Return (ITR-3) through the normal process.