BCCI owes Rs. 373 cr in taxes for 2009-10: I-T Dept
The Income-Tax Department has demanded over Rs 413 crore as tax from the world’s richest cricket body, the BCCI, as per its income assessment for the year 2009-10 of which only Rs 41 crore have been paid, an RTI (Right to Information) reply has revealed.
The Income-Tax Department has demanded over Rs 413 crore as tax from the world's richest cricket body, the BCCI, as per its income assessment for the year 2009-10 of which only Rs 41 crore have been paid, an RTI (Right to Information) reply has revealed.
The Department said BCCI used to get income-tax exemption as a charitable organisation but now that exemption has been withdrawn and its earnings come under business income.
Responding to activist Mr. Subhash Agrawal, the Department said that the BCCI had made over Rs 964 crore for the assessment year 2009-10 for which the department had demanded tax of over Rs 413 crore but so far only Rs 41.91 crore has been paid as tax by the cricket body.
The assessment for the years 2010-11 and 2011-12 is pending, it said.
"Effective steps should be taken to realise the tax dues of Rs 373 crore from the board," Mr. Agrawal said.