Indian Premier League (IPL) involves city teams managed by private entities. Ministry of Youth Affairs & Sports does not deal with IPL because the national team does not participate in the IPL tournaments. However, Ministry of Finance ( Deptt. Of Revenue has informed that Income Tax Department is conducting investigations to ascertain the source of investments, taxability of the income earned, taxability of the award of media rights and other violations of Direct Tax laws. The Investigations are time consuming because the investments have been ‘layered’ through a number of intermediaries including foreign entities. Reference have been made to the respective countries, where the entities are located. This was stated by Shri Pratik Prakashbapu Patil, Minister of State of Youth Affairs & Sports, in the Rajya Sabha today, in a written reply to a question by Shri Prakash Javadekar.
The Minister further stated that the subject of Tax assessment/exemptions and other related matters concerning IPL is under examination by the Standing Committee of Finance.
