IPL

Taxation of IPL Income under Section 115BBA of Income Tax Act 1961 for Mitchell Starc & Pat Cummins

Income Tax - Explore tax implications of Mitchell Starc and Pat Cummins' Rs. 45.25 crores IPL earnings under Section 115BBA. Learn about TDS, exemptions, and dual taxation agreements between India and Australia....

BCCI Not Engaged in Commercial Activities as Funds are used in Promotion of Sports

Income Tax - The Mumbai Tribunal has allowed relief to BCCI and directed CIT to grant registration under Section 12A citing that BCCI is still promoting the game of cricket....

How IPL Teams earns income & maintain profits despite huge costs

Income Tax - A major Source of income for IPL teams is Media rights for broadcasting IPL. When IPL was started in 2008, Sony has acquired broadcasting rights for ten years for a price of Rs 8200 Crores (i.e., 820 Crores per annum) but same rights for the five year period 2018-22 were acquired for a whooping price of Rs 16,347 Crores (i.e., 3,269 Crore...

GST Special: Major differences Between Service Tax and GST

Income Tax - The Government is trying its best to bring into effect the GST Law on 1st July 2017. Seeing at the close encounters during the current IPL, tell me what will happen if a match is to be played between GST and Service tax?...

IPL controversy – a classic example of complications in dealing with a corporate dispute

Income Tax - Many in this country including the corporates are closely watching the IPL controversy and it had led Mr.Shari Tharoor to submit his resignation. There are many interesting issues in the entire episode and I want to highlight few issues as a classic example of complications in dealing with corporate issues....

Tax Exemption Status of BCCI: Recent Developments & Future Prospects

Income Tax - Dive into Lok Sabha Unstarred Question No. 2302 to understand the tax exemption status of BCCI, potential changes, and insights into its income during the IPL-2023 tournament....

Govt expects over Rs 300 crore TDS and service tax from IPL-4

Income Tax - Government is expected to collect more than Rs 300 crore in taxes from the fourth edition of the Indian Premier League T20 cricket tournament which will begin in April this year. According to sources, the taxes would be obtained as Tax Deducted at So...

Tax officials to keep a close watch on IPL auction proceedings

Income Tax - Enforcement and tax officials will keep a close watch on the proceedings of players auction for IPL-4 which will see as many as 350 top cricketers from India and abroad go under the hammer in Bangalore later this week. The financial dealings and investments of the earlier editions of IPL are already under the scanner of agencies like the ...

Income Tax dept gets info on IPL finances from UK, Mauritius

Income Tax - The Income Tax department has got substantial information from the UK and Mauritius on overseas accounts of "non-residents" who invested in the cash-rich IPL after months of communication with the two countries. The department, as part of its probe into financial dealings in the T20 tournament, has also sent official requests to Switzerla...

IT Department is conducting Investigations of IPL Irregularities

Income Tax - The Income Tax Department is conducting investigations in the case of BCCI-IPL and the franchisees to ascertain the source of investments by the teams, taxability of the income earned, taxability of the award of media rights and to detect violation ...

GST on Complimentary IPL Tickets- Kings XI Punjab withdraws AAR Application

In re Kph Dream Cricket Pvt. Ltd (GST AAR Madhya Pradesh) - Whether free tickets given as Complimentary tickets by Kings XI Punjab for IPL Matches falls within the definition of supply under the CGST Act, 2017 and thus whether the Applicant is required to pay GST on such free tickets?; Whether the Applicant is eligible to claim Input Tax Credit (for short I...

IPL Sponsorship expenses allowable as Revenue Expenditure

ACIT Vs M/s.Samudra Developers Pvt. Ltd. (ITAT Mumbai) - expenditure incurred for organizing sports events are allowable items of revenue expenditure as such events publicise the names of the sponsor....

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Recent Posts in "IPL"

Taxation of IPL Income under Section 115BBA of Income Tax Act 1961 for Mitchell Starc & Pat Cummins

Explore tax implications of Mitchell Starc and Pat Cummins' Rs. 45.25 crores IPL earnings under Section 115BBA. Learn about TDS, exemptions, and dual taxation agreements between India and Australia....

Posted Under: Income Tax |

Tax Exemption Status of BCCI: Recent Developments & Future Prospects

Dive into Lok Sabha Unstarred Question No. 2302 to understand the tax exemption status of BCCI, potential changes, and insights into its income during the IPL-2023 tournament....

Posted Under: Income Tax |

BCCI Not Engaged in Commercial Activities as Funds are used in Promotion of Sports

The Mumbai Tribunal has allowed relief to BCCI and directed CIT to grant registration under Section 12A citing that BCCI is still promoting the game of cricket....

Posted Under: Income Tax |

How IPL Teams earns income & maintain profits despite huge costs

A major Source of income for IPL teams is Media rights for broadcasting IPL. When IPL was started in 2008, Sony has acquired broadcasting rights for ten years for a price of Rs 8200 Crores (i.e., 820 Crores per annum) but same rights for the five year period 2018-22 were acquired for a whooping price of Rs 16,347 Crores (i.e., 3,269 Crore...

Posted Under: Income Tax |

GST on Complimentary IPL Tickets- Kings XI Punjab withdraws AAR Application

In re Kph Dream Cricket Pvt. Ltd (GST AAR Madhya Pradesh)

Whether free tickets given as Complimentary tickets by Kings XI Punjab for IPL Matches falls within the definition of supply under the CGST Act, 2017 and thus whether the Applicant is required to pay GST on such free tickets?; Whether the Applicant is eligible to claim Input Tax Credit (for short ITC) in respect of complimentary tickets?...

IPL Sponsorship expenses allowable as Revenue Expenditure

ACIT Vs M/s.Samudra Developers Pvt. Ltd. (ITAT Mumbai)

expenditure incurred for organizing sports events are allowable items of revenue expenditure as such events publicise the names of the sponsor....

GST Special: Major differences Between Service Tax and GST

The Government is trying its best to bring into effect the GST Law on 1st July 2017. Seeing at the close encounters during the current IPL, tell me what will happen if a match is to be played between GST and Service tax?...

Posted Under: Income Tax |

Govt expects over Rs 300 crore TDS and service tax from IPL-4

Government is expected to collect more than Rs 300 crore in taxes from the fourth edition of the Indian Premier League T20 cricket tournament which will begin in April this year. According to sources, the taxes would be obtained as Tax Deducted at So...

Posted Under: Income Tax |

Tax officials to keep a close watch on IPL auction proceedings

Enforcement and tax officials will keep a close watch on the proceedings of players auction for IPL-4 which will see as many as 350 top cricketers from India and abroad go under the hammer in Bangalore later this week. The financial dealings and investments of the earlier editions of IPL are already under the scanner of agencies like the ...

Posted Under: Income Tax |

Income Tax dept gets info on IPL finances from UK, Mauritius

The Income Tax department has got substantial information from the UK and Mauritius on overseas accounts of "non-residents" who invested in the cash-rich IPL after months of communication with the two countries. The department, as part of its probe into financial dealings in the T20 tournament, has also sent official requests to Switzerla...

Posted Under: Income Tax |

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