Income from property and Capital gain

[kashif_0014]

salam

i am MOD C student of ICAP

i have 2 queries. first is that if a person is conducting business solely in the sale of paintings and other antique items then the income from sale of such items will be included in income from business or capital gain???

second is that if an individual earns rent which is below Rs. 150,000 (for example Rs. 120,000) in a Tax year and has taxable salary income of Rs 500,000 then what will be the treatment of income from property??
as the person has not satisfied all the conditions in section 15(7) of ITO 2001, rent must be chargeable to tax, but at what rate , since the rate of income from property is 0% for rent below Rs 150,000. does that means that there will be 0% tax on inc from property??

please clarify the situations

thanks