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 FINANCE
(Department of Revenue )
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 15th March, 2024
(Income Tax)
S.O. 1413(E).—In exercise of the powers conferred by the clause (22B) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the "The Press Trust of India Limited, New Delhi" as a news agency set up in India solely for collection and distribution of news, for the purpose of the said clause for two assessment years 2022-2023 to 2023-2024.
2. The notification is subject to the condition that the news agency applies its income or accumulates it for application solely for collection and distribution of news and does not distribute its income in any manner to its members.
[Notification No. 32 /2024 (F.No.165/1/2021-ITA-I)]
VIKAS SINGH, Director, ITA-I
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