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Fno loss.REPLY URGENTLY PLSSS

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(Querist)
27 July 2022 hello
last year i have reported my fno income in 44AD
THIS YEAR I HAVE LOSS IN FNO
IS TAX AUDIT APPLICABLE

MY TURNOVER IS NOT ABOVE 1 CR
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Dhirajlal Rambhia online

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Dhirajlal Rambhia online (Expert)
27 July 2022 Yes, if you declare loss, and your total income is above exemption limit...
No, if you declare minimum 6% profit.
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Manisha Makhija

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Manisha Makhija (Querist)
27 July 2022 WHICH SECTION MANDATES SUCH TAX AUDIT SIR.AS MY TURNOVER IS LESS THAN 1 CR
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Dhirajlal Rambhia online

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Dhirajlal Rambhia online (Expert)
27 July 2022 Sec. 44AB(e) r.w.s. 44AD(4)&(5) of IT act...

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