Do is need Tax AUDIT if i have current loss

Taxation
1

Do is need Tax AUDIT if i have current loss (around 1.5 lac)
This year my turnover is below 1 crore
and I have past few years LOSS to carry over
Both EQ and FnO

2

Hi @mvhemanth,

Tax audit is applicable when:

  1. Turnover is above the threshold
  2. Profit is less than 6% of the turnover
    tax-audit-applicability-table-02-838x1024 (1)

Use this tool to determine your tax audit applicability:

You need to report the losses when filing ITR for that Financial Year. Meaning, if you incurred losses in FY 2019-20 you need to report them when filing the ITR for FY 2019-20 (AY 2020-21) to carry them forward.