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Income Tax deadline
April, 23rd 2010

An Income Tax deadline ends today for the Board of Control for Cricket in India (BCCI) to furnish details of all eight original Indian Premier League (IPL) franchises.

The tax department had issued summons to the BCCI seeking to know from the board details of the owners of IPL teams, their balance sheets, income earned during the tournaments and the money paid to players.

The BCCI is expected to hand over the documents late this afternoon.

The Income Tax (I-T) authorities have asked the BCCI to respond by today to all queries, including one on how much money has been earned from the IPL and its structure and what kind of money has exchanged hands.

What I-T dept wants from BCCI

Bidding documents, contract agreements for 8 franchises

Disclosure of documents supporting ownership, shareholding

Details of players' auction, payments made

Deposits made to IPL, BCCI and franchises

Details of income, capital payments made to franchises

Balance sheets, receipts copies of IPL and BCCI

 
 
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