Gambit Posted March 25, 2009 Share Posted March 25, 2009 How many of you knew that? Despite being a private organisation, BCCI enjoys the same status as a charitable organisation does and gets IT waiver from the government. Why? Because, it's carries out "the charitable activity of promoting the sport in the country". Link to comment
Holysmoke Posted March 25, 2009 Share Posted March 25, 2009 kya mast mamu bana rela hai government ko:cantstop: Link to comment
cowboysfan Posted March 25, 2009 Share Posted March 25, 2009 dont really care-it true but they do a half-assed job of it. Link to comment
Rajiv Posted March 25, 2009 Share Posted March 25, 2009 I thought this was pretty known fact Link to comment
Sachinism Posted March 25, 2009 Share Posted March 25, 2009 Wow lucky them In a way it makes sense, they are promoting sport and are doing a decent job of it Link to comment
coffee_rules Posted March 25, 2009 Share Posted March 25, 2009 I think this was very well known. In one of the landmark court cases, it was judged that the national team doesn't represent the country, in other words, it can very well be a BCCI team. It doesn't reprsent the country. Link to comment
spectre Posted March 26, 2009 Share Posted March 26, 2009 someone's wish just came true :hysterical: http://cricketnext.in.com/news/bcci-to-lose-charitable-status-will-pay-tax/39428-13.html Link to comment
Desi Cartman Posted March 26, 2009 Share Posted March 26, 2009 and modi gets a salary of Re1 a month from BCCI ... Link to comment
Shane Posted March 26, 2009 Share Posted March 26, 2009 someone's wish just came true :hysterical: http://cricketnext.in.com/news/bcci-to-lose-charitable-status-will-pay-tax/39428-13.html O Boy Link to comment
ViruRulez Posted March 26, 2009 Share Posted March 26, 2009 kya mast mamu bana rela hai government ko:cantstop: :hysterical::hysterical::hysterical: Link to comment
Zap_Brannigan Posted March 26, 2009 Share Posted March 26, 2009 Unless the govt taxes every other sport bodies too, they should STFU and stay away from BCCI. This is just another me too thing because of all the money involved. BCCI is a non-profit organization and the govt shd ensure that the people involved dont loot the money instead of asking for a cut in the profits. Link to comment
Gambit Posted March 26, 2009 Author Share Posted March 26, 2009 I thought this was pretty known fact I didn't know about this. Does this also mean the match fees and annual retainer contracts(Class A,B etc) players get from the BCCI are exempt from tax as well? Link to comment
coffee_rules Posted March 26, 2009 Share Posted March 26, 2009 I didn't know about this. Does this also mean the match fees and annual retainer contracts(Class A' date='B etc) players get from the BCCI are exempt from tax as well?[/quote'] No..that is income for the player. That is taxed to the player. BCCI is exempt from paying taxes for any of it's income. Income from TV revenue, gate collection, income from sponsors, IPL franchises, etc. From that income, they pay out match fees for all national, domestic and ex-player pensions, etc. Nobody has seen the balance sheet of BCCI, I mean it is not public. So, we don't know how they operate. Link to comment
fineleg Posted March 26, 2009 Share Posted March 26, 2009 Unless the govt taxes every other sport bodies too' date=' they should STFU and stay away from BCCI. This is just another me too thing because of all the money involved. [b']BCCI is a non-profit organization and the govt shd ensure that the people involved dont loot the money instead of asking for a cut in the profits. They will always be "non-profit" - the Rupees will go into the pockets of the BCCI executives, and there will not be a profit :winky: Pawar is part of the govt, so more tamasha. Link to comment
nikred Posted March 26, 2009 Share Posted March 26, 2009 someone's wish just came true :hysterical: http://cricketnext.in.com/news/bcci-to-lose-charitable-status-will-pay-tax/39428-13.html What is this, a jinx thread.:haha: Link to comment
Ram Posted March 26, 2009 Share Posted March 26, 2009 This is a joke, BCCI is NOT a charity organization that 'promotes sporting activities..' Its as commercial as commercial gets. Besides, just look at the revenue they get. The govt. could earn 10s of 100s of crores in tax revenue from them, money that could used to help poor people. What are they doing not tapping into this resource? Link to comment
dial_100 Posted March 26, 2009 Share Posted March 26, 2009 Absolutely.... have some discretion for the ... sake. They are fully commercial and make ton of money. Should be tax. I knew it... but totally forgot about it. Kudos to UPA for charging them tax. Link to comment
Guest Hiten. Posted March 26, 2009 Share Posted March 26, 2009 Gambo, please say India will NOT win the T20 WC and 2011 WC ....NOW!!!! :icflove: Link to comment
ludhianvi Posted March 26, 2009 Share Posted March 26, 2009 Gambo' date=' please say India will NOT win the T20 WC and 2011 WC ....NOW!!!! [/quote'] Haha, this reminds me of the IPL days... where whichever team Gambit supported , it suffered his wrath and they lost Link to comment
Mr. Wicket Posted March 26, 2009 Share Posted March 26, 2009 Besides' date=' just look at the revenue they get. The govt. could earn 10s of 100s of crores in tax revenue from them, money that could used to help poor people. What are they doing not tapping into this resource?[/quote'] That assumes tax revenues get used appropriately by the government, rather than lining the pockets of government officials. Link to comment
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