In ClearTax, the package for security traders comes around 5.8K for Zerodha clients. They are also saying that we need to pay 5K to 10K for audit charges in addition to the package.
Is this how it works?
Also, will they include both the charges as expenses in the reports
Suggest you to go through this module to determine if an audit is required or not. Audit fees of 5k to 10k is quite reasonable.
I am a student and have no salary. I have a small fno loss and some profit in equity segment (well below the taxable limit).
Do I need to file returns and get an audit or am i exempt from doing both?
I am guessing your income is below taxable limit, in which case it is not mandatory to file ITR or getting an audit done. But it is best you do since there is a chance of getting a scrutiny notice asking why you haven’t filed.
Early financial understanding and discipline is useful for longer period. Though not mandaotory its good to file and observe annual financials outcomes as we do for companies.