Whether Audit under Income Tax Act Required ??

CA. Bhavik P. Chudasama (Practice) (3553 Points)

11 June 2021  

My Client does Trading in Future & Options and the Turnover as per Income Tax Act is below 5 Crore and has Loss of around 1.25 Lacs & also after considering other Income the Total Income does not cross the Maximum amount chargeable to Tax.

 

 

So whether Audit is required under Sec 44AB or I can file ITR 3 with normal books of accounts Case