taxation problem

In respect of taxation, if you have filed return to the Valuation Department, you will soon receive a property tax return. If you do not received this return, you are obliged to inform the tax authority of the commencement of income and ask them to send you a property tax return. If you have other business income, you could select personal assessment so that all such income will be computed together and you may turn out pay less tax.

I do not quite understand whether you refer to a property tax or profits tax question. Therefore, I shall answer them both.
1. In respect of property tax(ie. you hold the property in personal name), you need to keep documents for property income, including rental agreement, rental receipts, pay-in slips etc. Please refer to Inland Revenue Ordinance for keeping of business records.
2. If you hold the property in name of a limited company, you need to pay profit tax and property tax will be exempted. Business records will be kept under both the Inland Revenue Ordinance as well as Companies Ordinance requirements.
Hope it can be of help!