ss_blog_claim=a3650b8eebfe3434539d25e084e19bcf ss_blog_claim=a3650b8eebfe3434539d25e084e19bcf Blood Rayne: IT dept gets Rs 400 crore as tax from IPL3

IT dept gets Rs 400 crore as tax from IPL3

The Income Tax department probing on alleged financial irregularities in the IPL has collected duty tax of nearly Rs 400 crore from the third edition of the T20 tournament. The department has accrued the amount as Tax Deducted at Source (TDS) from the remuneration paid to players, umpires, coaches, commentators and from payment of overseas publicity rights. IT authorities are putting together the TDS collections as they are collecting information from several offices across the country where the IPL franchises are registered.

The IT department is currently not only probing the source of money into the tournament but is also investigating the transactions relating to the Indian Premier League including the flow of money from offshore destinations into the tournament. After the Chennai Super Kings (CSK) were crowned winners of the IPL in Mumbai on April 25, the department started collecting the taxes under the TDS category paid by the various franchises to professionals and professional services.

The department had collected documents related to bidding, payment of taxes and various other financial details during its countrywide survey operations on various IPL franchises, with such operation being conducted at the BCCI and IPL premises including at the office of former IPL Commissioner Lalit Modi on April 15. The IT department in Mumbai has created special officers to monitor the IPL as the metropolis hosts the IPL marketing and advertising offices.


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