In case of non salaried filing itr 4 opting 44ad and filing return as per old regime
if we have loss of 50000 in f&o and turnover is less than 50 lacs from f&o , and turnover from other business is less than 20 lacs, total turnover is 70 lacs approx from all business, is it compulsory to show loss and is there any requirement of tax audit in this case.?
if you are filing ITR-4, then you need to show 6 or 8% profit, as the the case may be. There is no compulsion to show loss. And if you are showing presumptive profit, there is no need for any audit anyway.
In case you choose to show actual loss, you need to file ITR-3. Audit won't apply in this case though.
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