@Quicko If I wish to carry ahead my losses from derivatives in subsequent 12 months (FY 2023-2024) ( in order that I can set-off them in opposition to income if any ) Do I have to do Tax Audit?
Hello @Jitendra_Khare
A tax audit is required in case your turnover exceeds a sure threshold. With a view to carry ahead your losses, you’re solely required to file your ITR inside the due date.
Thanks quite a bit for fast response…
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Quicko:
in case your turnover exceeds a sure threshold.
Are you able to inform us what’s the quantity. I attempted to file utilizing quicko however asking for audit. my turnover is 48k. Tried to commerce a couple of times as a retail man. is an Audit actually wanted