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Will sale of property form part of sales/turnover?

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Querist : Anonymous

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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 ?
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Expert : Anonymous

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

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

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CA R SEETHARAMAN (Expert)
13 February 2018 Yes audit u/s 44AB is not required.
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RAJA P M

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RAJA P M (Expert)
13 February 2018 Yes... I agreed to Mr CA R SEETHARAMAN.
Audit u/s 44AB not required in this case...

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