Press Council of India notified under section 10
Press Council of India notified under section 10 of the Income-tax Act, 1961
S.O. 4828(E).—In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies for the purposes of the said clause, ‘Press Council of India’ (PAN AAABP0351P), a body established under Para 1 of Chapter II of the Press Council of India Act, 1978 (Central Act), in respect of the following specified income arising to that body, namely:-
(a) Levy of fees on publishers and news papers; and
(b) Interest earned on FDRs and Savings bank accounts of Press Council of India.
- This notification shall be effective subject to the conditions that Press Council of India,-
(a) shall not engage in any commercial activity;
(b) activities and the nature of the specified income shall remain unchanged throughout the financial years; and
(c) shall file return of income in accordance with the provision of clause (g) of sub-section (4C) of section 139 of the Income-tax Act, 1961. - This notification shall be deemed to have been applied for the assessment year 2019-2020, 2020-2021, 2021-2022, 2022-2023 and 2023-2024 relevant to financial years 2018-2019, 2019-2020, 2020-2021, 2021-2022 and 2022-2023 respectively.
Explanatory Memorandum
It is certified that no person is being adversely affected by giving retrospective effect to this notification.
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