There is no need to get audited or to file return using presumptive income basis as the turnover doesn’t exceed the threshold. You can use ITR-3 for filing returns.
I made Loss in fno but turnover is more than 1 crore, is audit necessary?
Page no : 3
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 16 June 2022
But pramod turnover is 1.4 crore and income is less than 6%
MVC
(Job)
(15 Points)
Replied 01 April 2024
Hi Guys,
I have a salary income of 10 LPA and Loss in Options trading around 30K .So, now i am filling ITR 3.
As i joined the job in Oct month only, i want to avail new tax regime so up to 7.5 lakhs there is no tax.
And for next year i want to avail old tax regime for ITR 3.
My question is, Is that okay to switch from new to old and how many times i can do that ?
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