Will sale of property form part of sales/turnover?


This query is : Resolved 

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
12 February 2018 i have sold an immoveable property ( land ) for Rs.1.50 crore. will it form part of turnover? is any audit u/s 44 AB is required? my turnover from regular business is Rs. 80.00 lakhs for which my income is above 8%. Can the experts kindly clarify this ?

Avatar

Expert : Anonymous

Profile Image
Expert : Anonymous (Expert)
12 February 2018 No... It's not including in Your Business Income.

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
12 February 2018 thank you sir. do i understand that audit u/s 44AB is not required?

13 February 2018 Yes audit u/s 44AB is not required.

13 February 2018 Yes... I agreed to Mr CA R SEETHARAMAN.
Audit u/s 44AB not required in this case...


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now



Similar Resolved Queries


loading


Unanswered Queries



CCI Pro



Answer Query



Company
ARTICLESHIP 16 July 2026
CA Article

Pipara & Co. LLP.

Mumbai

CA Inter

View Details
Company
29 July 2026
ACCOUNTANT

ONESTEP GST SOLUTION

New Delhi

B.Com

View Details
Company
29 July 2026
Audit Executive

RBSM Corporate Advisors Private Limited

Pune

CA

View Details
Company
23 July 2026
Senior Accountant

Felicity Adobe LLP

Bengaluru

CA Inter

View Details
Company
16 July 2026
CA Inter, CA Intermediate, CA IPCC, CA CPT , CA SemiQualifie

Vakilsearch.com

Chennai

CA Inter

View Details
Company
21 July 2026
Chartered Accountant

Keshri & Associates

Thiruvananthapuram

CA

View Details
Company
ARTICLESHIP 08 July 2026
Article internship

AJAY SINGH AND CO LLP

Thane

CA Final

View Details
Company
22 July 2026
Senior Chartered Accountant

SKSS

Patna

CA

View Details
Follow