I have stcg on equity shares 150000/- , F&O Loss -60000/- and Other Income 220000/- in FY 2023-24
I don’t want to opt Presumptive taxation scheme and want to set off my f & o loss with other heads of income. Can I file ITR 3 without Tax Audit ? Pls suggest … 
In FY 2022-23 my total income was 375000/-
Suggest pls …
Tax audit is only required if your turnover from F&O and intraday is over rs 10 crore.
For intraday, turnover is calculated by taking the sum of the absolute value of the realized profit from each trade.
Trading Turnover Calculation for Trading Income - Learn by Quicko
It is very difficult to go above this 10 crore turnover limit even if one tries really hard.
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Audit is not reqd if you dont exceed the Turnover limit of 10Cr
Since F&O is non-speculative Business income, ITR-3 + Account case without Audit will suffice.
So 44AA=yes, and No for this section 44AE/44B/44BB/44AD/44ADA/44BBA.
You need to make Balance Sheet, Trading Ac, PnL A/c minimum. This you consider only the F&O related cost+loss (however, you can add business expenses if you want related to it and assets if any, depreciation if any though not required for set-off)
F&O loss of 60K can be set-off with stcg/other income in Curr year so net is (1.5L + 2.2L - 60k)
Nature of business code of 09028 can be selected.
Consult CA, i’m not one.
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Thanks Bro … 
