Home› India› Ministry of Finance› Notification under section 10(22B) of the Income Tax Act, 19...
Date: 15-Mar-2024 Category: Extra Ordinary State: Union Government Country: India

Notification under section 10(22B) of the Income Tax Act, 1961 in case of The Press Trust of India Limited

Issued by Ministry of Finance · Department of Revenue

Research with AI Agent Chat with Document Generate Summary Translate Helpful Share Add to Project Create Task

Executive Summary & Key Takeaways

What it means

  • The notification specifies Press Trust of India Limited, New Delhi as a news agency established in India solely for the purpose of collecting and distributing news. This specification is for the purpose of clause (22B) of Section 10 of the Income-tax Act, 1961.

Key Changes

  • Press Trust of India Limited, New Delhi is specified as a news agency under Section 10(22B) of the Income-tax Act, 1961 for assessment years 2022-23 and 2023-24.
  • The specification is conditional, requiring the news agency to use its income or accumulated funds solely for the collection and distribution of news.
  • The news agency is prohibited from distributing its income to its members in any manner.

Impact Analysis

Press Trust of India Limited

  • Action Item: PTI should review its financial practices to ensure compliance with the conditions stipulated in the notification to avail the benefits under Section 10(22B).

Central Board of Direct Taxes (CBDT)

  • Action Item: CBDT to monitor PTI's financial activities to ensure adherence to the stipulated conditions.

Members of Press Trust of India Limited

  • Action Item: Members should be aware of the restriction on income distribution and ensure compliance.

Key Entities Referenced

Press Trust of India Limited, New Delhi: A news agency set up in India solely for the collection and distribution of news. Income-tax Act, 1961: The principal legislation governing income tax in India. Section 10(22B) provides for exemptions for specified news agencies. Central Board of Direct Taxes (CBDT): A part of the Department of Revenue in the Ministry of Finance, responsible for the administration of direct tax laws through the Income Tax Department.
Official Source Record View Original Source →
See Full Document Text
रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 सी.जी.-डी.एल.-अ.-15032024-253084 CG-DxLx-xEG-I1D5H0x3x2x0 24-253084 xxxGIDExxx असाधारण EXTRAORDINARY भाग II—खण् ड 3—उप-खण्ड (ii) PART II—Section 3—Sub-section (ii) प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 1347] नई दिल्ली, िुक्रिार, माच ड15, 2024/फाल्ग नु 25, 1945 No. 1347] NEW DELHI, FRIDAY, MARCH 15, 2024/PHALGUNA 25, 1945 जित्त मत्रं ालय (रािस्ट्ि जिभाग) (केन्द्रीय प्रत्यक्ष कर बोडड) अजधसचू ना नई दिल्ली, 15 माचड, 2024 (आयकर) का.आ. 1413(अ).—आयकर अजधजनयम, 1961 (1961 का 43) की धारा 10 के उपिाक्य (22ख) के तहत प्रित्त िजियों का प्रयोग करते हुए केंर सरकार एति ् द्वारा "प्रेस रस्ट्ट ऑफ इंजडया जलजमटेड, नई दिल्ली” को िो जनधाडरण िर्षों यथा 2022-23 से 2023-24 के जलए उि उपिाक्य के प्रयोिन हते ु मात्र समाचार के संग्रह और जितरण के जलए भारत म ें स्ट्थाजपत एक समाचार एिेंसी के रूप में जिजनर्िडष्ट करती ह।ै 2. यह अजधसूचना इस ितड के अधीन ह ै दक समाचार एिेंसी अपनी आय का अथिा दकए गए संचय का प्रयोग केिल समाचार के संग्रह और उसके जितरण के जलए करेगी तथा अपनी आय को दकसी भी तरह से अपन े सिस्ट्यों को जितररत नहीं करेगी। [अजधसूचना स.ं 32/2024 (फा.सं. 165/1/2021-आईटीए-I)] जिकास ससंह, जनिेिक, आईटीए-I 2019 GI/2024 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)] 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 Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.

Continue your research

Related Documents from Ministry of Finance