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F & O LOSS RS.2.40 LAC CAN I FILED ITR 3 LOSS ACCOUNTS AUDIT IS MANDATORY OR NOT ?

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(Querist)
28 July 2022 1 ASSESSES HAS F & O LOSS RS. 2.40 LAKH HIS TURNOVER RS.12940560/-

ASSESSES HAVE TO DO AUDIT MANDATORY OR NOT ?
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Dhirajlal Rambhia online

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Dhirajlal Rambhia online (Expert)
28 July 2022 No, if he had not opted sec. 44AD of the act, in any earlier 5 years.
Or if his total income is below basic exemption limit.

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