Guaranteed amount paid to any non-resident sports association in relation to any match played in India liable to withholding tax

In brief- In a recent ruling, the Calcutta High Court (“HC”) in the case of PILCOM Vs. CIT [2010-TII-23-HC-KOL-INTL], held that if any payment in the nature of guaranteed amount was paid to any non-resident sports association in relation to any match played in India, the provisions of section 194E of the Income-tax Act, 1961 (“the Act”) would be applicable with respect to deduction of tax at source. Furthermore, the HC has held that the provisions of section 115BBA of the Act which deals with tax ability of non-resident sportsmen or sports associations, are independent ...