Govt notifies the Press Trust of India Limited as Special News Agency for Tax Exemption
The CBDT issued Notification No. 32/2024 dated March 15, 2024, designating ‘The Press Trust of India Limited’, New Delhi, as a news agency under clause (22B) of section 10 of the Income-tax Act, 1961. This designation is applicable for the assessment years 2022-2023 and 2023-2024. It specifies that this exemption is contingent upon the condition that the agency’s income is deployed or saved exclusively for the collection and distribution of news, without distributing any income to its members