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Asked by namish on :Dec. 29, 2017

Is buying religious books charitable in nature

Is buying religious books charitable in nature

Is buying religious books charitable in nature

0

Kanishka Jan. 02, 2018

First it is necessary to know the intent behind buying of religious books. If you are buying religious books for trading purposes, then income out of trading will be taxable as PGBP income in your hand....On the contrary, if you are buying religious books for personal purpose then no treatment will be required under Income Tax Act...Further, the treatment will be altogether different if you are buying religious books in the capacity of a trust, which is registered under Income Tax Act...Please let me know the exact purpose of your purchases, so that i may help you further...

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