My turn over showing in zerodha tax P&L is 1.8 crore but I lost 60 lack, do I need to pay the tax and is it required to do the audit.And can I recover this big losses

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1

My turn over showing in zerodha tax P&L is 1.8 crore but I lost 60 lack, do I need to pay the tax and is it required to do the audit.And can I recover this big losses

2

You Can set Off Your Loss In Next ( i think 7 years or 5 years ) with your profit . But for now, yes you had to pay the tax

3

Audit and file your returns to carry over loss to future years, there is no tax payable for loss.

4

Audit not required. You can maintain books for accounts and carry forward losses.

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