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BCCI income rises to Rs.1,667 crore
The Board of Control for Cricket in India (BCCI) earned Rs.1,666.84 crore in 2010-11 as compared to Rs.1,387 crore in the previous fiscal, finance minister Pranab Mukherjee said today.
The Board of Control for Cricket in India (BCCI) earned Rs.1,666.84 crore in 2010-11 as compared to Rs.1,387 crore in the previous fiscal, finance minister Pranab Mukherjee said Tuesday.
Gross receipt disclosed by BCCI in its tax returns for the assessment years 2007-08 to 2010-11, are Rs.651.82 crore, Rs.1,000.40 crore, Rs.1,387.02 crore and Rs.1,666.84 crore respectively, Mukherjee said in a written reply in the Rajya Sabha.
In view of the commercialisation of the cricketing body, the government has withdrawn tax exemptions provided to the BCCI.
"The registration granted to BCCI under section 12A of the Income Tax Act was withdrawn in December 2009 with effect from June 1, 2006,” the minister said.
The BCCI's income was earlier entirely exempt from tax.
For the assessment years 2007-08 and 2008-09, the BCCI has so far paid Rs.249 crore as tax. Tax demands of Rs.118.04 crore and Rs.257.12 crore have been raised for the other two assessment years.
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