Need Tally
for Clients?

Contact Us! Here

  Tally Auditor

License (Renewal)
  Tally Gold

License Renewal

  Tally Silver

License Renewal
  Tally Silver

New Licence
  Tally Gold

New Licence
 
Open DEMAT Account with in 24 Hrs and start investing now!
« General »
Open DEMAT Account in 24 hrs
 Advance Tax Paid, Do You Still Need To File ITR? Check Details Here
 Centre seen to have met FY24 gross tax target
 6 income tax rules that salaried should know as financial year 2024-25 starts from today
 How to calculate income tax on stock market gains along with your salary?
 Moonlighting for Additional Income? Know Its Tax Implications
 Have you claimed education cess? Be prepared to pay tax as per the new rules
 Reserve Bank - Integrated Ombudsman Scheme, 2021 (RBIOS, 2021)
 How is tax computed for selling a house?
 How much tax do you pay on equity investments?
 Fuel taxes: Centre s gains striking since FY16
 Tax rules for NRIs on sale of assets located in India

To levy tax on IPL from next season
May, 07th 2010

You may have to pay more to enjoy an Indian Premier League match in a stadium next season onwards.

Two days after the Bombay High Court made remarks on the state governments reluctance to levy entertainment tax on Indian Premier League (IPL) matches, the state cabinet on Thursday decided to tax on the popular tournament in the next season.

This means, spectators will probably end up shelling out more money for tickets to these matches because organisers usually pass on the burden of taxes to consumers.

The cabinet on Thursday finally decided to levy entertainment tax between 15 and 25 per cent, on the tournament in 2011.

We have taken a decision to charge tax from the next season wherever it happens in the state, said Deputy Chief Minister Chhagan Bhujbal.

Since the tax will be levied on the total revenue generated from ticket sales in its cabinet meeting in January, the burden will be passed on to spectators who purchase tickets.

This is the second time the government is taking a decision to charge entertainment tax on the IPL.

The first was taken in January, but the government made a U-turn on it.

In January, Chief Minister Ashok Chavan had said, IPL is more entertainment and business than sports. We are not taxing test matches.

During the Legislature session in April 2010, there was huge pressure from the Opposition on the state to tax the IPL matches that took place in Maharashtra in 2010, but at that time the cabinet did not have a unified vote on this.

Sources hinted that Nationalist Congress Party chief Sharad Pawar was not in favour of the decision since it would impact ticket sales and revenue earned by IPL.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2024 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting