I-T department asks for over Rs 413 crore as tax from BCCI

The income tax department has demanded over Rs 413 crore as tax from the world's richest cricket body, the BCCI as per its income assessment for the year 2009-10 of which only Rs 41 crore have been paid, an RTI reply has said. The department said BCCI used to get income tax exemption as a charitable organisation but now that exemption has been withdrawn and its earnings now come under business income.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.

Source: Times of India