Tax Audit Mandatory

I have a minor loss from intraday stock trading around Rs. 1500.

Is it mandatory for a tax audit? Can I not declare this loss? Or should I declare profit @ 6%?

Replies (3)
Quick Summary
This discussion addresses whether a minor loss from intraday stock trading necessitates a tax audit. The consensus suggests that if you declare a profit of 6% (as per presumptive taxation under Section 44AD), you may not need to show the minor loss and thus avoid a tax audit. However, strictly speaking, if your declared profit falls below the 6% threshold, a tax audit might be required.

Not required to show such loss. if profit is shown @ 6% then no need for tax audit
Strictly speaking tax audit Yes as profit below 6% (assuming you are under 44AD presumptive taxation.

not required to show minor loss

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