Do I have to get my accounts audited?

#1
I am writing to you to get a clarification regarding getting my accounts audited in regard to my stock trading. I am a software professional and I trade Intraday and take delivery of shares as well.

1. I only trade in equities on NSE (no options/futures or forex)
2. My profit+loss turnover is less than 1 crore
3. Overall, I have made losses.

Do i still require to get audited?
 
#2
I am writing to you to get a clarification regarding getting my accounts audited in regard to my stock trading. I am a software professional and I trade Intraday and take delivery of shares as well.

1. I only trade in equities on NSE (no options/futures or forex)
2. My profit+loss turnover is less than 1 crore
3. Overall, I have made losses.

Do i still require to get audited?
This query is confusing most of the ppl.I read today on zerodha's blog that even if the turnover is less than 1 crore and if profit is less than 8% of the turnover we need to get the books audited.We can only skip it if the profit is 8% of the turnover which is less than 1 crore.
Kindly read the full blog.
http://zerodha.com/z-connect/trader...rs/notice-under-section-139-9-possible-reason

I m still confused bcoz if its so what its written then its ridiculous and total nonsense coz 90% of the traders won't have 1 crore turnover and 8% profit to skip the auditing.
 

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