Tax clarification

my profit from business is 328000 on a turn over of 1900000 and my loss from fno is 125000 on a turnover of 680000. Which form should i use. Can i offset my profit with loss from fno. Do i need audit.
I do not have any other income.

Tax audit is necessary

Can u please elaborate

@madhavasai123 @sinha
I was reading this just now… https://zerodha.com/varsity/chapter/turnover-balance-sheet-and-pl/
And I asked at the income tax department Bangalore. They said if turnover is <1Cr (2Cr according to Zerodha) then no need to audit.
But you have another business which may have to be audited. I am not sure about this part though.
Disclaimer : I am just another fellow trader and not a tax expert.

Well the business is above 8% an pls clarify can combine loss of fno and profit of business

I really cant talk anymore because I dont know TAX deeply. For my case, auditing is not required. This much I am sure now.
…if you are reporting >8% of turnover then auditing is not required I think.