FY 2020-21
I have not opted for presumptive taxation. I have F&O loss. My total income excluding F&O loss is more than basic exemption limit. But, my turnover from F&O is not above 1 crore rupees (since all transactions are in non-cash mode, the limit is 5 crore rupees). Is tax audit applicable to me?
Continuing the above situation, what if my total income exclusing F&O loss is less than basic exemption limit?