Exemption for news agency: designation grants tax specification subject to exclusive application of income to news collection and distribution. The Central Government designates the Press Trust of India Limited as a news agency under clause (22B) of section 10 of the Income-tax Act, specifying it is set up solely for collection and distribution of news. The notification conditions the tax specification on the agency applying or accumulating its income exclusively for collection and distribution of news and on not distributing income to its members.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Exemption for news agency: designation grants tax specification subject to exclusive application of income to news collection and distribution.
The Central Government designates the Press Trust of India Limited as a news agency under clause (22B) of section 10 of the Income-tax Act, specifying it is set up solely for collection and distribution of news. The notification conditions the tax specification on the agency applying or accumulating its income exclusively for collection and distribution of news and on not distributing income to its members.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
