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Advertisement Income received by Trust
Hi,
One of Client is Public Trust. Apart from social activities the Trust is publishing Magazine once in a year. Said Magazine is distributed free.
Trust receives certain amount from the persons who place advertise in the magazine. It is not given in the form of Donation, but towards the advertisement put up.Trust incurs printing cost and other cost on it. All the income generated from said would be used towards the object of the trust.
Whether said publishing activity would come outside the perview of trust activities?
What are the complaince to be made so that it would be under the perview of trust activities?
Replies (2)
The deed should make it clear that the avertisement collections in its sovenigr is to be applied for the promotion of its objectives
In that case whether Total Receipt and Total Expenses should be given seperately in Income & Expenditure account OR we can show the net (Total Income - Total Expense) on the Income/Expense side. This will have impact on the Schedule IXC Statement of Income liable for Contribution.
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