29 February 2020
1. Test Matches in India: Amount actually received by the player from the cricket control board is taxable after allowing a deduction of an amount equal to 75% of such receipts in respect of reasonable expenses incurred to earn such income. 2. Other matches in India: Generally the entire receipts by the player from the board will be deemed to have been spent for earning such income and hence not taxable. 3. Matches outside India: A player will be allowed a deduction of 50% of the amount received for playing in foreign countries and the balance will be taxable.
03 March 2020
Dear Sir,
Please let me know the section which is being referred here.
Also which ITR form should I use to file such return.
Thanks & Regards
CAclubindia
