No
Read Sec. 44AB(e) alongwith sec. 44AD(4) & (5) ......
For that check.......
1. Your turnover in F&O for previous year.......
2. Whether sec. 44AD was opted in preceeding years......
Though there are divergent views on the interpretation of the section after amendment (as per finance act 2016), and as such clarification is sought by ICAI direct tax committee from CBDT on the issue........ one such view is that for any business who has not opted sec. 44AD in any preceeding year/s, can declare such loss without tax audit... But I do not accept the same, to be on safer side....
Only one point favouring in this case for non applicability of audit is TO being below 10 lakhs....... thereby sec 44AA is not applicable, and as such sec. 44AB ...
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