My total turn over in fno is 5 lakhs and profit 80k for 20-21. Is audit required? Is there anything specific to be done to opt for presumptive scheme or it’s just if criteria is fulfilled so i can file itr 4? Am salaried and salary income is 15lakh.
If I gift some amount to my mother and she earns profit in FnO with that money. Will the profit be clubbed with my income to pay tax?
She is housewife.