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BCCI income rises to Rs 1,667 cr in 2010-11

By The Assam Tribune

NEW DELHI, Aug 31 (IANS): 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 on 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 In view of the commercialisation of the cricketing body, the government has withdrawn tax exemptions provided to the BCCI. �The registration granted to BCCI under section 12A of the Income Tax Act was withdrawn in December 2009 with effect from June 1, 2006,� the minister said.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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BCCI income rises to Rs 1,667 cr in 2010-11

NEW DELHI, Aug 31 (IANS): 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 on 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 In view of the commercialisation of the cricketing body, the government has withdrawn tax exemptions provided to the BCCI. �The registration granted to BCCI under section 12A of the Income Tax Act was withdrawn in December 2009 with effect from June 1, 2006,� the minister said.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.