Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: ACCOUNTING STANDARD :: ACCOUNTING STANDARDS :: Central Excise rule to resale the machines to a new company :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ARTICLES ON INPUT TAX CREDIT IN VAT :: empanelment :: due date for vat payment :: cpt :: TAX RATES - GOODS TAXABLE @ 4% :: articles on VAT and GST in India :: list of goods taxed at 4% :: TDS :: form 3cd :: VAT Audit :: VAT RATES
 
 
News Headlines »
 All you need to know about claiming tax break on HRA
 How much income tax you should pay on investments in gold?
  Best ways to save tax in 2017
 8 unknown stocks that could yield huge returns
 Government may set threshold for probe into deposits to prevent harassment of taxpayers
 How to calculate capital gains tax
 April 1 still the target for GST: FM
 How to respond to CBDT’s tax compliance notice
 Goods & Services Tax (GST)(As On 01-01-2017)
 Excise, service taxpayers to migrate to GST portal by January 31
 Tax numbers belie slowdown: FM

It's advantage Big B, gets Rs 51 cr tax free
January, 05th 2007

Superstar Amitabh Bachchan has got a major reprieve from a tribunal that ruled against Income Tax Department's plea to tax the entire amount of about Rs 51 crore earned from hosting blockbuster game show Kaun Banega Crorepati.

The Income Tax Appellate Tribunal upheld an order of Commissioner (Appeals) and rejected I-T department's arguments that the entire income of Rs 50.92 crore was taxable.
 
Bachchan had contended that as per Section 80RR of the Income Tax Act, 30 per cent of the earnings that accrued to him were not taxable since he was an artist and the remaining 70 per cent, which went to the account of Amitabh Bachchan Corporation Ltd, could be taxed.

Section 80RR provides relief to an Indian artist earning foreign exchange if he brings back the remuneration to India.

However, I-T department was of the view that Bachchan was an anchor and not an artist in the television show. Moreover, the income must be earned outside India and the person should go out of India, it argued.

The payment was received from E-Entertainment Ltd, a foreign company incorporated in the British Virgin Island. The department said the entire show was shot in India at a studio in Mumbai provided by Star India Pvt Ltd and so, no tax relief should be granted.

The department had directed Bachchan to pay tax on 30 per cent of Rs 50.92 crore, saying he was not entitled to claim deduction, prompting him to approach Commissioner (Appeals).

The Commissioner had ruled in favour of the megastar. The decision has now been upheld by the Tribunal, which accepted the contention that the game show demanded exhibition of skill as an artist.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Team

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions