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Income Tax

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(Querist)
10 October 2009 I want to ask that the match fees received by the cricketers is taxable under which head?
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CA.Tarun Maheshwari

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CA.Tarun Maheshwari (Expert)
10 October 2009 Income Under the head 'Profit and Gains from Business or Profession'
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Manmohan ACA, CS

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Manmohan ACA, CS (Expert)
11 October 2009 agree
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Princy

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Princy (Querist)
12 October 2009 But they are not professionals.
There is no such regularity.
Why not "Income from Other Sources"???
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CA.Tarun Maheshwari

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CA.Tarun Maheshwari (Expert)
14 October 2009 How can it be Income from other sources. It is their main job. Earnings are totally dependent on their skills to play. Advertisement income is to be treated as Income from other Sources for them, but not their main income source.

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