BCCI's revenues aren't taxed

[Gambit]

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".

[Holysmoke]

kya mast mamu bana rela hai government ko:cantstop:

[cowboysfan]

dont really care-it true but they do a half-assed job of it.

[Rajiv]

I thought this was pretty known fact

[Sachinism]

Wow lucky them In a way it makes sense, they are promoting sport and are doing a decent job of it

[coffee_rules]

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.

[spectre]

someone's wish just came true :hysterical: http://cricketnext.in.com/news/bcci-to-lose-charitable-status-will-pay-tax/39428-13.html

[Desi Cartman]

and modi gets a salary of Re1 a month from BCCI ...

[Shane]

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

[ViruRulez]

kya mast mamu bana rela hai government ko:cantstop:

:hysterical::hysterical::hysterical:

[Zap_Brannigan]

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.

[Gambit]

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?

[coffee_rules]

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.

[fineleg]

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.

[nikred]

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:

[Ram]

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?

[dial_100]

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.

[Guest Hiten.]

Gambo, please say India will NOT win the T20 WC and 2011 WC ....NOW!!!! :icflove:

[ludhianvi]

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

[Mr. Wicket]

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.