Tax Audit Report

Have any queries related to tax audit? You can ask them in here.

Hi,

The previous year, when I filed taxes through your CA assisted plan, CA said that I don’t tax audit but your website was showing that I should do it.

This AY same thing is shown on your website. Do I need to have a tax audit or not?

Hey @AJ41, could you share your contact details with us at help@quicko.com so we can better help you.

I do trading in F&O. As per my turnover, Audit is required.
There is no mention of such package.
If not, please guide how it is done and ITR filed.

Hey @bharath_kumar, could you please share your contact details at help@quicko.com and someone from our team will get in touch with you soon.

I do trading in F&O. Turnover: 1.1 cr, PnL: +2Lakhs. Do I need to get audit done?

Hey @Ranjeet_Ranjan, from the data that you have mentioned, tax audit is not recommended in your case.

Hi @Maharshi_Shah ,

I have around 5K F&O turnover and a net loss of around 4K. It is saying that I need a tax audit. Is there any way quicko can help?

Hey @aniket7824, sure we could. Could you please share your contact details at help@quicko.com and someone from our team will get in touch with you.

hi. i do trading in f&o turnover 20L, 1.5 lakh loss which was offset by income from stcg during the same year. do i have to do tax audit?

Hi @unmesh, to understand whether you will have tax applicability please refer to the table here.
If there’s any more help you need, feel free to reach out. :blush:

hi,
I have some loss in f&o,
but I want to show it as minor profit and my all total income is also below 2.5L, so i will not required audit, right?

can I show it as profit instead of loss ?

@Yash_Kaviya @TeamQuicko @Nireka @Maharshi_Shah pls reply ASAP

Hey @kp3, tax audit is not applicable when profit is less than 6% of the turnover and your total income is below the basic exemption limit. Keeping in mind the turnover is below the threshold.

You can report the loss when filing your ITR before the original due date. In case you file a belated return you won’t be able to carry forward the losses.

yes @Nireka , but just want to know that legally its allowed to show less loss than actual one or not?
is there any provision that doesn’t allow to report less loss(especially for trading)?