BCCI pays 4298 Crores in last five years as IT
Aug 9, 2023 11:48 AM
Good Evening buddies, I am here with the latest report coming from Finance ministry where Income tax details have been shared publicly & it can be noted that BCCI have paid really big to the government as a tax, during IPL season there was a buzz that why IPL is not being taxed so it's all clear now guys.
The income tax rates for entities in India differ based on their legal structure and the amount of income earned. For example, domestic companies are subject to a flat tax rate of 25% on their profits. However, certain conditions and exemptions may apply based on factors such as turnover, industry, and location.On the other hand, partnerships and limited liability partnerships (LLPs) are not taxed at the entity level. Instead, the partners or members of the partnership are individually taxed on their share of the partnership's income.It's important to note that the income tax laws and rates for entities can be complex and subject to change. Therefore, it is advisable for businesses to consult with tax professionals or refer to official government sources for accurate and up-to-date information regarding income tax for entities in India.BCCI financial and Income Tax details in 2021-22:
•Revenue - 7,606 Crores.
•Expenditure - 3,064 Crores.
•Income Tax - 1,159 Crores.
Source of Info: CricTracker & my fair assessment
What do U reckon guys relating to it
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