Treatment of losses in f&o and equity trading for salaried p

Hi Team .

I am Salaried person and has taxable income from salary and also deals in F&O and equity trading and incurred losses in both i.e loss in F&O trading of Rs. 20935/- with turnover of Rs. 40281/-  and  aggregate loss of Rs. 4258 /- from trading of shares ( equity)  with turnover of Rs. 290494/-.

Request your guidance on following points.

1. Considering above scenario which ITR  to be filled.
2. Do in need to maintain books of account
3. What should I need to do to carry forward losses
4. Do I need to do audit to C/f my losses ( considering above scenario) and turnover < 1 Crs.
5. What happens if I do not show my losses and files ITR 1 only
6. If I files ITR 3 without audit and not showing losses, what will be the consequences.
7. Finally what is the ideal solution for above mention scenario.