Tax Audit Query

Will tax audit be applicable to me for 2021-22 financial year.

Here’s my situation
Salary income in 20% slab
Started fno trading in December 2021(3 months ago)
Turnover is 5 lakh and overall it’s net profit. But profit is less than 6% of turnover as shown in zerodha tax pnl.


Hi @emrys11, according to your income details, a tax audit will not be applicable to you. You can always go to the Tax Audit Calculator tool, to input your income and check whether or not a tax audit is applicable to you. Hope we could help. :blush:

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Will I have to go under presumptive taxation for tax audit to be not applicable? Or it won’t be applicable without taking help of presumptive taxation.
If i take preumptive taxation route then i will have to continue in next year as well, right? Only way to avoid presumptive taxation in next year would be through tax audit.

Tax audit will be applicable in your case if u show your profit below 6%

Given your info Tax Audit is not required but you have to file ITR-3.