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Guest (Querist) 08 June 2010 This query is : Resolved
If I start a periodical and sell it at some profit. And if the profit is completely utilized for charity work and further printing expenses 'll the money be taxed? The periodical is aimed at helping the students with their curriculum and also no assets 'll be bought or any salary obtained through this profit. Just like a social work

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Raj Kumar Makkad (Expert) 08 June 2010
You shall have to obtain exemption from Income Tax department otherwise your income though may be utilized exclusively for the charity purpose shall be taxable.

Parthasarathi Loganathan (Expert) 09 June 2010
First of all you need to categorize the nature of charity work engaging an auditor before seeking exemption under the provisions of Income Tax Act

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