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...
Corporate Affairs Minister Salman Khurshid today said the Registrar of Companies has to judge if Rendezvous Sports had violated any procedures in its foray into the Indian Premier League cricket. “That is not for me to judge. If there are any violations, these are to be judged by the Registrar of Companies as they are the ones who monitor companies and it is their jurisdiction,” Khurshid told reporters here.
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.
The Indian Premier League (IPL), which began a trend of auctioning cricketing talents by its franchises, seems to have signaled the beginning of a possible accounting issue in future. At least, the country’s apex accounting standards setting body, Institute of Chartered Accountants of India (ICAI), believes so.
The Maharashtra Government has not taken a final decision on levying entertainment tax on the IPL, said the Chief Minister, Mr Ashok Chavan, on Wednesday while addressing the media on the eve of budget session. When it was pointed out that the State Cabinet said on January 20 that entertainment tax of up to 25 per cent would be imposed on the ticket sales of IPL and other one-day international cricket matches, Mr Chavan said no final decision was taken and the matter was still under consideration. Matches held in the municipal limits would attract 25 per cent tax while those outside the municipal limits would be levied 20 per cent tax.
BJP today said it would take legal action, if the state government fails to implement a cabinet decision to impose entertainment tax on the Indian Premier League(IPL) matches here. Finance minister Sunil Tatkare’s recent announcement that there will be no entertainment tax on the IPL matches, has evoked a sharp reaction from the main opposition.
Cricket is now officially an entertainment sport. Forty-five years after it declared horse racing as entertainment, the state government has decided to add cricket to the list. Besides cricket, pubs, discotheques, internet protocol television (IPTV) and permit rooms with a live orchestra (dance bars earlier) will also attract a similar tax. There are 22 discotheques in Maharashtra, of which 20 are in Mumbai city, Mumbai suburbs and Thane. Only two are in Pune.
The Commissiorate of Service Tax, Delhi, has slapped notices on official partners and sponsors of the tournament, including Hero Honda Motors and Jaiprakash Associates, asking them to show cause as to why service tax amounting to around Rs 6 crore should not be recovered from them for providing sponsorships. Two notices were issued to Hero […]
It’s not just cricketers who made a fortune at last week’s Indian Premier League (IPL) auction. The income tax (I-T) department is set to get richer too, with franchisees owners who splurged record sums of money on cricketers last weekend, having to fork out at least 10% (TDS) to the IT department. The cash-rich cricketers […]
