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?
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
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.
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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