Is Tax Audit applicable?

I am a salaried individual with an income of 4 lakh and FnO losses of 3.4 lakh. Which ITR should I file and is tax audit applicable?

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Hey Dixita,

In your case, you need to file ITR-3 and show losses from F&O as business losses. Since your total income is more than 2,50,000 (Basic Exemption Limit) and you have losses, a tax audit will be applicable.

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