Conditions for charging rental income as income from b & p

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This query is : Resolved

Chetan Dhoka (Querist)

10 January 2012 I have a land. I want to develop that land and want to build a commercial complex on that. The rental income i earn from renting of commercial complex will be charged to tax under which head? (Income form Business or Profession or Income from house property)

What are the circumstances under which i can charge that income under the head of Business or Profession?

Kindly help.
Very urgent.

Thanks.

Nayan Das

Nayan Das (Expert)

11 January 2012 IF YOU ARE INDIVIDUAL RETURN FILLING THEN YOU WILL FILED INCOME FROM HOUSE PROPERTY.

IF YOU ARE REULARLY MAKE HOUSE THEN RANTED SO ITS GOING YOUR BUSINESS.

Chetan Dhoka

Chetan Dhoka (Querist)

11 January 2012 @ Nayan: i am not quiet clear as to what u are trying to mean.
Thanks for replyin.

Awaiting replies..

Nayan Das

Nayan Das (Expert)

11 January 2012 IF YOU ARE TRETADE THAT LAND ARE FIXED AND THIS IS DEVLOPMENT TO BUILDING AND THEN ITS BUILDING MAKING FOR COMMERCIAL COMPLEX FOR RANTING SO ITS UNDER INCOME FROM HOSE PROPERTY

Chetan Dhoka

Chetan Dhoka (Querist)

11 January 2012 yes i agree with you. but i want a way in which i can structure my transaction so that the income i earn will be charged as income from business and profession.

Nayan Das

Nayan Das (Expert)

11 January 2012 IF YOU ARE TREATED BUSINESS SO 1ST WORK IS MAKE TRADE LICENSE FOR CONSTRUCTION PURPOSE
AND THEN YOU WILL ALL EXPENSES AND INCOME ACCOUNTABLE.

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