If I have loss from FnO with turnover less than 1 crore, and short term capital gains, the profit being less than 2.5 lakhs and no other source of income, is tax audit necessary and will i have to file itr 3 or itr 4?
Please help
Tax audit is not required if you don’t want to carry forward losses.
Short term capital gains will be taxed at 15%, even if you have zero income.