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CBDT has notified The Press Trust of India Limited, New Delhi for the purpose of Section 10(22B) of the Income Tax Act, providing the organization with tax exemption benefits for the assessment years 2022-2023 to 2023-2024. Official copy of the notification is as follows MINISTRY OF FINANC
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FAQ :
The Press Trust of India Limited, New Delhi has been specified by the CBDT for tax exemption.
The tax exemption is granted under Section 10(22B) of the Income Tax Act, 1961.
The tax exemption is valid for the assessment years 2022-2023 and 2023-2024.
The condition is that the news agency must apply its income or accumulate it solely for the collection and distribution of news, and not distribute any income to its members.
According to the notification, The Press Trust of India Limited is set up solely for the collection and distribution of news.
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