Reports | BCCI has paid over 5000 crore to Income Tax under protest
An official note released by the Board of Control for Cricket in India (BCCI) has revealed that the board has paid over 5000 crore to the Government of India over Income Tax, under protest. The note has clearly stated that the board believes it is entitled to a refund of payments made thus far.
Ever since the Indian government withdrew the Income Tax exemption for the BCCI in 2009, the two have been at loggerheads, despite the board depositing money yearly. According to the note circulated among the members yesterday, the total money paid as of March 31, 2018, is Rs 4658.26 crore.Â
“The total amount of TDS and Income Tax paid under protest receivable by the board from the Income Tax authorities as at 31st March 2018, amounts to 4658.26 crore (previous year Rs 3679.85.cr). The Board would be entitled to a refund of the tax deducted from the payments made to it and tax paid under protest, together with interest thereon, if it is held that it is exempt from Income Tax,” the note said, reported Mumbai Mirror.
Prepared under the chairmanship of Vinod Rai, and held true by a former Comptroller and Auditor General (CAG) of the government, it seems that the BCCI has a strong case for its stance that it should continue to be exempt from paying Income Tax.
“In the opinion of the Board, the entire amount of TDS receivable/Tax Paid Under protest is good for recovery. As at 31st March 2018, the Board believes this is exempt from Tax,” the note said.
“The Board based on professional advice believes that no provision for income tax is required to be made and it has a good case to continue to avail the exemption under Section 11 of the Income Tax Act, 1961 and enjoy the benefits of registration under Section 12A of Income Tax Act 1961 notwithstanding the demands/disputes raised by income tax department which have been challenged by the Board before various appellate/judicial authorities,” the note added.