SECTION 10(22B) OF THE INCOME-TAX ACT, 1961 – EXEMPTIONS – NEWS AGENCY – NOTIFIED NEWS AGENCY

NOTIFICATION NO. S.O. 1359(E) [No. 23/2012 (F. NO. 165/02/2010-ITA-I)], DATED 15-6-2012

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 2012-2013 to 2013-2014.

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.