CBDT notifies ‘The Press Trust of India Limited’ as news agency set up in India solely for collection and distribution of news for exemption under section Section 10(22B) of Income Tax Act, 1961 vide Notification No. 41/2018 dated 30th August, 2018 for three assessment years 2019-2020 to 2021-2022.
MINISTRY OF FINANCE
(DEPARTMENT OF REVENUE)
(CENTRAL BOARD OF DIRECT TAXES)
Notification No. 41/2018
New Delhi, the 30th August, 2018
S.O. 4211(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 three assessment years 2019-2020 to 2021-2022.
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. 41/2018 (F.No.165/4/2017-ITA-I)]
VINAY SHEEL GAUTAM, Under Secy.