BCCI liable to pay Rs 373 crore income tax for 2009-10

BCCI liable to pay Rs 373 crore income tax for 2009-10The Board of Control for Cricket in India (BCCI), which is often termed as the richest cricket body in the world, is liable to pay Rs 373 crore to the income tax department for the assessment year 2009-10.

BCCI had been asking for an exemption from tax under the provisions of the Income Tax Act applicable to charitable institutions. However, the I-T deparment has turned down the request for exemption.

The cricket board had to pay a total of Rs 413 crore for the year, out of which it paid only Rs 42 crore nad is thus yet to pay Rs 373 crore. The board has paid complete tax in the two previous financial years.

In a reply to a RTI application filed by Subhash Chandra Aggarwal, the country’s I-T department said that the assessment for the financial years 2010-11 and 2010-12 is yet to made.

The reply from the tax authorities also showed that the board’s income increased three times in three financial years from Rs 274 crore in 2007-08 to Rs 964 crore in 2009-10.