Tax audit f&o loss

My client having below details:-

loss from f&o 30 lacs

turnover less than 1 cr (f&o)
taking sum of favourable plus unfavourable differences

income from other source 30 thousand only this year being saving bank interest ( means less than 2.5 lacs limit)

a) whether books of account need to be maintained ?
b) whether tax audit required?

Individual filing f&o business ITR first time. Want to show this f&o business loss and
c/f.