19 feb 2012
IT dept asks for over Rs 413 cr as tax from BCCI
The department said BCCI used to get income tax exemption as a charitable organisation but now that exemption has been withdrawn and its earnings now come under business income.
Responding to activist 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 Rs 41.91 crore have 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,” Agrawal said.