Chennai: Feb 5, 2013
The Board of Control for Cricket in India (BCCI), on Monday, accused the Income Tax department of burdening them with double taxation. The state associations affiliated with the board said that they too have to pay tax on the share of money that they get from BCCI generated from television rights and the Indian Premier League (IPL).
However, sources revealed that the tax sources told the BCCI that it has to pay tax on all its income since it signs all the contracts, which it termed commercial in nature.
The tax authorities, according to Mail Today, have cited the commercial angle of the IPL which happens to be the biggest source of income for the Indian board.
“Also, since the franchises pay a certain percentage of the money for buying players, that money is being taxed,” said the source.
“Mr Srinivasan explained all these issues at the meeting on Monday. His presentation claimed that authorities have also taxed the amount that the BCCI had alleged that Jagmohan Dalmiya had misappropriated,” he claimed.
Also on cricketcountry.com