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Core Purpose

Notification under clause (22B) of section 10 of the Income-tax Act, 1961, specifying The Press Trust of India Limited, New Delhi, as a news agency for exemption purposes for assessment years 2022-2023 and 2023-2024.

Detailed Summary

The Central Board of Direct Taxes, Department of Revenue, Ministry of Finance, vide S.O. 1413(E) dated 15th March 2024 (Notification No. 32/2024), exercising powers under clause (22B) of section 10 of the Income-tax Act, 1961 (43 of 1961), specifies 'The Press Trust of India Limited, New Delhi' as a news agency set up in India solely for the collection and distribution of news, for purposes of that clause, for assessment years 2022-2023 to 2023-2024. The notification is conditional on the news agency applying or accumulating its income solely for collection and distribution of news and not distributing any income to its members. The notification is signed by Vikas Singh, Director, ITA-I, under File No. 165/1/2021-ITA-I.

Full Text

2019 GI/202 4 (1) EXTRAORDINARY PART II —Section 3 —Sub-section ( ii) PUBLISHED BY AUTHORITY No. 1347] NEW DELHI, FRIDAY , MARCH 15, 2024 /PHALGUNA 25, 1945 CG-DL-E-15032024-253084 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 exerc ise 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 dis tribution 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 a nd 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 Uploaded by Dte. of Printing at Government o f India Press, Ring R oad, Mayapuri, New Delhi -110064 and Published by the Controller of Publications, Delhi -110054.

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