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Income Tax Exemption under Section 10(22B) of Income Tax Act, 1961

 

Eligible Assessee

Any notified news agency

 

 

 

Nature of Income

Any income

 

Amount Exempt

Entire income

 

Conditions laid down for Tax Exemption

  1. The news agency is set up solely for collection and distribution of news and applies its income or accumulation for collection or distribution of news as such.

  2. It does not distribute its income to its members in any manner

  3. The government notification at any one time shall have effect, not exceeding three years, as may be specified

  4. The government may after giving opportunity to agency, rescind such notification if it finds that the agency does not adhere to the specified conditions.

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