I-T notice to UP cricket body

After the Board of Control for Cricket in India was asked to pay more than Rs 400 crore as tax to the government,it is now the turn of the cricket associations affiliated to the BCCI to lose their 'charitable society' status and tax exemptions.

Written by Ajmer Singh | New Delhi | Published: May 11, 2012 9:21:36 am

After the Board of Control for Cricket in India was asked to pay more than Rs 400 crore as tax to the government,it is now the turn of the cricket associations affiliated to the BCCI to lose their ‘charitable society’ status and tax exemptions. The Income-Tax department has issued notices to the Uttar Pradesh and Haryana cricket associations,asking them to furnish details of their charitable activities in order to be eligible for I-T

exemptions.

These associations are registered under section 25 of the Companies Act,making them eligible for tax exemptions under section 11 of the I-T Act,1961. The non-profit companies registered under section 25 are supposed to promote commerce,art,religion,science,charity without any motive of earning profit.

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