Income Tax : Explore the tax implications for IPL players, including income tax for Indian and overseas players, TDS rates, and the role of DTA...
Corporate Law : The Reliance-Disney merger reshapes India's OTT landscape, raising concerns about market monopoly and consumer choice....
Income Tax : Explore tax implications of Mitchell Starc and Pat Cummins' Rs. 45.25 crores IPL earnings under Section 115BBA. Learn about TDS, e...
Income Tax : The Mumbai Tribunal has allowed relief to BCCI and directed CIT to grant registration under Section 12A citing that BCCI is still ...
Finance : A major Source of income for IPL teams is Media rights for broadcasting IPL. When IPL was started in 2008, Sony has acquired broad...
Income Tax : Dive into Lok Sabha Unstarred Question No. 2302 to understand the tax exemption status of BCCI, potential changes, and insights in...
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...
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 35...
Income Tax : The Income Tax department has got substantial information from the UK and Mauritius on overseas accounts of "non-residents" who in...
Income Tax : The Income Tax Department is conducting investigations in the case of BCCI-IPL and the franchisees to ascertain the source of inve...
Goods and Services Tax : Whether free tickets given as Complimentary tickets by Kings XI Punjab for IPL Matches falls within the definition of supply unde...
Income Tax : expenditure incurred for organizing sports events are allowable items of revenue expenditure as such events publicise the names of...
The Registrar of Companies (RoC) on Tuesday issued a show-cause notice to Kolkata Knight Riders (KKR) for inadequate regulatory filing, as it prepares to shoot off similar letters to some other franchisees. The registrar found that Red Chillies Entertainment, the team owner promoted by Bollywood actors Shah Rukh Khan and Juhi Chawla, did not file annual returns for the period up to September 2009, an RoC official said.
The initial probe of the corporate affairs ministry into the affairs of the IPL franchises has revealed that some of them had failed to submit their annual reports , including balance sheets, for different years for which they have now been issued show-cause notices with a caution that failing to respond could invite criminal action.
In the midst of a tax probe into finances of IPL, authorities have issued notices to several sponsors of the first edition of the Twenty20 event, including DLF, Adidas and Religare for non-payment of service tax. The notices have asked as to why no service tax has been paid for the sponsorship deal for the first edition of IPL, held in 2008, official sources said.
The Corporate Affairs Ministry today said it was collecting information on all franchisees of IPL teams and described this as a part of normal practice for any company and was not a probe. “My ministry is merely collecting information that we should have in the normal course of those companies that are franchisee companies,” Corporate Affairs Minister Salman Khurshid told reporters here.
GODFREY Phillips India chairman KK Modi on Thursday said he was confident his son, Lalit Modi, would come out unscathed from the ongoing investigations against him. “These are just charges that they (income-tax officials) have put on Lalit. I feel that Lalit will come out clean of all this. The charges levied by the income tax department will be proved wrong,”
Rejecting allegations of impropriety about its transactions related to the Indian Premier League, World Sports Group (WSG) today said it has not used funds received in connection with the IPL broadcast rights for “inappropriate or unlawful activities”.
Embattled IPL Commissioner Lalit Modi today urged the BCCI to give him just five days to prepare answer for all the questions in lieu of his five year long services and he is unlikely to move court against IPL’s governing council meet on April 26.
The Indian Premier League organisers could now face a public interest litigation (PIL) over payment of entertainment tax in Maharashtra. Senior Shiv Sena leader and MLA, Mr Subhash Desai, has filed a PIL in the Bombay High Court, seeking such a levy on the cricketing event. The Board of Control for Cricket in India; the Commissioner of the IPL, Mr Lalit Modi, and the Maharashtra Government are the respondents in his petition.
With the Indian Premier League (IPL) saga getting murkier, the Ministry of Corporate Affairs on Tuesday asked the Registrar of Companies (RoC) to collect all details relating to the IPL franchises and the bidding process. In its order, the Ministry asked the RoC to get information on the memorandum of association and on franchise agreement. The RoC has been asked to submit its report within a week.
Corporate Affairs Ministry today said it is looking into all IPL franchises in the face of the controversy over team owners, a move that is in tandem with I-T probe into source of funding of the games body. Corporate Affairs Minister Salman Khurshid said his ministry would find out “the rules of engagement” of all IPL franchises.
