Tax audit in this case ?

249 views 4 replies
salary 4 lakh
bank interest 30 k
lic 10 k

f&o turnover less than 25 lacs

loss in f&o reporting as per broking company statement.


Here income exceed tax exemption limit due to salary (and salary is always tds deducted)

Never opting for presumtive basis.
Replies (4)

Not mandatory....

 

whether BS and p&l required in ITR 3 because turnover not exceed 25 lacs

or we can just simply fill colum no( d )below B/s and column no 53 below p&l

1. No

2. Yes

This means as no tax audit applicable here my last date is 31st july after that i will not be able to carry forward my loss
should I select NO under Audit information it asked whether regular books of account maintained as u said B/s , p&l not required
But actually bills p&l summary derivative transactions all are available in report section online

One last Q if I fill column no 53 I need to write
Gross Receipts (sum of fav plus unfav)
less expenses (including purchases)
Then the net loss figure will not match with actual loss figure as per broker statement

because sales figure is different from gross receipts / turnover arrived as per above formula.

please advise.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
24 May 2026
Accounts & Tax Executive

PARAS KHURANA AND CO

New Delhi

B.Com

View Details
Company
ARTICLESHIP 28 May 2026
Accounts, Audit & Compliance Executive

Shyam Joshi & Associates

Pune

B.Com

View Details
Company
ARTICLESHIP 08 June 2026
Internal & Taxation Article

O P Bagla & Co LLP

New Delhi

CA Inter

View Details
Company
12 June 2026
Accounts & Taxation Executive

Winshine Financial Services

Mumbai

CA Inter

View Details
Company
04 June 2026
Semi Qualified CA

Goyal Puneet & Associates

New Delhi

CA Final

View Details
Company
26 May 2026
Education Content Creator

Adyayam Education LLP

Bengaluru

CA Foundation

View Details
Company
27 May 2026
Audit Assitant

Virender K Gupta and Co

New Delhi

B.Com

View Details
Company
22 May 2026
Sr. Financial Analyst - Consolidation

Search Synergy

Mumbai

CA

View Details