Exempts every Indian company engaged wholly or partly in the business of printing and publishing newspapers, magazines and journals or any one or more of them - S.O.2817 - Income Tax

Indian companies in printing and publishing exempt from Income-tax Act Section 104 if specific conditions are met.

The Central Government, under the Income-tax Act, 1961, exempts Indian companies involved in printing and publishing newspapers, magazines, and journals from the provisions of Section 104 for the assessment year starting April 1, 1965, and subsequent years. The exemption applies if the publications are printed in the company's own press, the value of the company's plant and machinery is between ten and fifty lakh rupees, and if solely engaged in this business, at least 51% of the company's total income for the relevant year is from this business.