CA RUPESH LOHADE (Practice) (361 Points)
25 May 2011
In Section 115BBA, the income from the participation in matches in India of Non-Resident is chargeable to tax at the presumptive rate of 10%.
If the non-resident gets a man of the match and is awarded with a certain sum of money, whether that would be chargeable under Sec 115BBA or there is some other section which would cover that.
Harpreet
(* * * * * *)
(1670 Points)
Replied 25 May 2011
Please tell your query in more details so that we can resolve the same.
Since the winning any prize in cash/cheque for Non-Resident Sportsman or Sports Association attracts TDS deduction @ 10%. There is no lower limit in winning amount. whether 100/- win by a non resident sportsman the same will be attacted to deduct TDS. U/s 194E.
CA. Anuj Gupta
(Practices in NRI Int.Tax FEMA TP FDI/FIPB & FCRA)
(7019 Points)
Replied 25 May 2011
Yes the same should be squarely covered in sec 115BBA as the Man of the Match award results from the participation in match only.
Anuj
0-9810106211
CA RUPESH LOHADE
(Practice)
(361 Points)
Replied 04 June 2011
@ harpreet and CA Anuj Sir: thanks a lot.......!!!!
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