Is audit rquired..?

I am a full-time investor …No Salaried Income…in the financial year 2019—2020. I incurred a loss of around 4 lakh rupees…I only buy shares in delivery… That is the cash market. Non-speculative. Trading…my total income was a loss of rs 4 lakh. Turnover was less than 50 lakh.

So do I need to go for a TAX AUDIT?

Dixita

Hey Dixita,

Tax Audit is applicable in case:

  • Losses from Business/Profession
  • Profit is less than prescribed limits
  • Turnover is more than the threshold

You can also check your tax audit applicability using the Determine Tax Audit Tool :slight_smile: