Income tax

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PIYUSH SINGLA (Querist)
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09 March 2013 Conversion of a Private Limited Company into a Limited Liability Partnership.

Section 47(XiiiB).
My query is
Will the income under the head house property is considered as a part of turnover for the provisions of Section 47 (XiiiB).

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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09 March 2013 In case the business is not of letting out the house properties, then it will not form part of the turnover or gross receipt.
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The phrase Total Sales, Turnover or Gross Receipts have been used in connection with the Business only. It is not intended to include all kinds of receipts.
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