Do i need Audit?

Taxation
1

Hi ,

My salaried income for FY 17-18 is less thn 2.5L and Below is my Zerodha Tax P&L.

Following are my questions

  1. Do I need to give tax this year? My total income (salary+ Stock market profit )< 2.5L
  2. Do I need Audit? as zerodha website say audit is required if turnover <1 cr and profit <8%

Zerodha Tax P&L

Equity
INTRADAY GROSS PROFIT =-37,695.80
INTRADAY TURNOVER =48,014.10
SHORT TERM GROSS PROFIT =-826
SHORT TERM TURNOVER=1,76,949
LONG TERM GROSS PROFIT=N/A
LONG TERM TURNOVER=N/A
TOTAL CHARGES =9,894.31

F&O
FUTURES GROSS PROFIT=N/A
OPTIONS GROSS PROFIT=8,396.25
TOTAL GROSS PROFIT=8,396.25
FUTURES TURNOVER=N/A
OPTIONS TURNOVER=2,02,732.50
TOTAL TURNOVER=2,02,732.50
TOTAL CHARGES=2,077.39

Please see that I only have profit in F&O and In equity trading my activity is intraday only and overall i have loss.

2

No tax implications and no audit required if total business income < 2.5 lacs.