Message: Return type of CI_Session_files_driver::open($save_path, $name) should either be compatible with SessionHandlerInterface::open(string $path, string $name): bool, or the #[\ReturnTypeWillChange] attribute should be used to temporarily suppress the notice
Message: Return type of CI_Session_files_driver::close() should either be compatible with SessionHandlerInterface::close(): bool, or the #[\ReturnTypeWillChange] attribute should be used to temporarily suppress the notice
Message: Return type of CI_Session_files_driver::read($session_id) should either be compatible with SessionHandlerInterface::read(string $id): string|false, or the #[\ReturnTypeWillChange] attribute should be used to temporarily suppress the notice
Message: Return type of CI_Session_files_driver::write($session_id, $session_data) should either be compatible with SessionHandlerInterface::write(string $id, string $data): bool, or the #[\ReturnTypeWillChange] attribute should be used to temporarily suppress the notice
Message: Return type of CI_Session_files_driver::destroy($session_id) should either be compatible with SessionHandlerInterface::destroy(string $id): bool, or the #[\ReturnTypeWillChange] attribute should be used to temporarily suppress the notice
Message: Return type of CI_Session_files_driver::gc($maxlifetime) should either be compatible with SessionHandlerInterface::gc(int $max_lifetime): int|false, or the #[\ReturnTypeWillChange] attribute should be used to temporarily suppress the notice
Message: Cannot modify header information - headers already sent by (output started at /home2/franchi4/public_html/legal/system/core/Exceptions.php:271)
Well, this is one of many absurd tax laws that we have to bear with. Audit needs to be done if profit in FnO(considered as business income ) is less than 8 % of turnover , turnover being less than 1 crore.
If you file return declaring loss / profit < 8 % and fail to do audit , your return may be rejected and you might get a notice from the IT dept. I am no expert in legal aspect of taxation , but I read somewhere that the penalty for non-compliance is 0.5 % of turnover subject to a max of 1.5 lac( sec 271B).
The cost of audit can be anywhere between 8k-20k . This estimate is based on quotes from CAs when I needed it. Get familiar with all the concepts and try convincing the CA that its a fairly simple audit , not involving more than a couple of days work.
You will need a digital signature ( your CA should get it done for you ) for filing ITR. For calculating assets, liabilities you will need to furnish your CA your bank statements , Other investment statements. For turnover , profit/loss you will need statements from your broker. Some broker provide a consolidated statement showing turnover and profit/loss .. otherwise you will need Statements that can help you calculate the same.