Heads of income - urgent!!

Dear

If your asking this question from Income Tax Point of View then 

a) Renting - Correct - Under House Property

b) Commission received - Other Sources of Income- ( as this is Indirect Income and commssion is not the object of the businees in Property dealing - Sale & Purchase is the main object of Business) In Income Tax return also fill it in other source schedule.

c) Sale of Property- PGBP.

I Hope answer is clear to you

Regards    

@ Manoj Mehta : Thanx for ur reply friend..but commission income is not indirect non-business income rather it is indirect supplementary business income & for taxability of income u/h "PGBP", there is no distinction made in law regarding the main business or supplementary to the main business. Can u refer me any case laws?

@  Tribhuvan Aditya Singh : thanx for ur reply.. but property held by the property delaler as stock in trade right from the very begginning..so there is no date of conversion..so capital gain/loss will arise not as per capital gain special rules u/h "CG" u/s-45(2) but as per block of assets rule u/h "PGBP" u/s-2(11) like in case block is empty u/s-50(2) & also in case block exists if sales consideration exceeds gross block value u/s-50(1) but if block exists & sales consideration is less than gross block value then there will be WDV for charging depreciation?? Am i correct sir?
 

@ stranger... in case you are dealing with purchase and sale of property then it cant be treated as fixed assets and it will be shown under "stock in trader" and hence prov. of depreciation will not be applicable.

Tribhuvan ji i got ur this point that block of assets will not be applicable as it is not fixed assets but stock in trade..but as u said earlier that it will be taxable as capital gain but how it's possible as stock in trade is not at all a capital asset u/s-2(14).. & moreover when we sale 'stock in trade' it results into business profit or loss..so don't u think business income (not capital gain) will be computed by deducting COA / indexed COA from sales consideration??

k means for example: when the dealer intorduces property worth Rs.50 lakhs into busines ass stock in trade, & suppose its indexation cost after 3 years is Rs.80 lakhs & sale value is Rs.1 crore then capital gain = Rs.30 lakhs (indaxation value minus book value) & business income = 50 lakhs (sale value minus book value)..Am i right? Can u please refer the section tribhuvan ji?

k tribhuvan ji..but can u refer me the section please??