Govt expected to receive Rs 200 crore as taxes from IPL T20
Government is expected to rake in more than Rs 200 crore as taxes from the third edition of the Indian Premier League (IPL) T20 cricket tournament.delhi Updated: Mar 14, 2010 16:49 IST
Government is expected to rake in more than Rs 200 crore as taxes from the third edition of the Indian Premier League (IPL) T20 cricket tournament.
According to Finance Ministry sources, the taxes would be accrued as Tax Deducted at Source (TDS) from the remuneration paid to players, umpires, coaches, commentators amongst others under the income tax category while advertising, marketing and consultancy services of the sporting extravaganza will be taxed under the service tax bracket.
As per the estimate calculated by the field formations of the Revenue department, the IPL will fetch about Rs 100 crore each under the direct (income tax) and indirect (service tax) categories.
The IPL T20 series is being played from March 12 to April 25 in various Indian cities with foreign and domestic players being paid handsome amounts of money.
The government had received Rs 91 crore as taxes under the Tax Deducted at Source (TDS) category from the first edition of IPL, while the second edition which was hosted in South Africa last year had fetched the department "few crores" as income tax accrued from the BCCI - the organiser of the glamourous tournament - and through other sources.