Can u tell me income from test match by cricketer is taxable in which head of IT.
SUDHIR & PRADEEP JI (CA FINAL+LLB + DISA) (2299 Points)
07 April 2010
Can u tell me income from test match by cricketer is taxable in which head of IT.
Ashish M
(Chartered Accountant)
(2731 Points)
Replied 07 April 2010
Circular No. 88/2008 F.No. 275/43/2008-IT(B), dated 21.8.2008.
through this circular, CBDT notified that certain persons in respect relation to whom tds is to be deducted u/s 194J. Professional services.
It contains "sports persons".
Hence incomes from matches are taxable under the head "PGBP" to the sports person.
CA Babit Khurana
(learning is my passion)
(338 Points)
Replied 07 April 2010
Agree with ashish same will be taxable under head PGBP.
CA LOVELY ARORA
(C.A. B.Com (H) Graduate)
(2151 Points)
Replied 07 April 2010
Being a Sports Person's profession i.e. playing cricket match......... the same will be taxable under the head Profit and Gains from Business or Profession...........