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 STANDARDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: due date for vat payment :: form 3cd :: VAT RATES :: list of goods taxed at 4% :: articles on VAT and GST in India :: Central Excise rule to resale the machines to a new company :: TDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARD :: empanelment :: VAT Audit :: TAX RATES - GOODS TAXABLE @ 4% :: cpt
 
 
News Headlines »
 Income Tax Department expands list of deposits, transactions under scrutiny
  Income-tax Act, 1961 read with Rule 114E of Income-tax Rules, 1962
 Master Directions on Access Criteria for Payment Systems
 RBI-Scheduled Bank's Statement of Position in India as on Friday, January 06, 2017 (Revised)
 3 Big Mistakes To Avoid This Tax Season
 The Top 5 Tax Stories Of 2017
 Are multiple service tax rates in the offing?
 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

Cricket broadcasts: global players to be taxed in India
September, 27th 2008

Global broadcasters making big money from live telecast of cricket matches in India will have to pay taxes here, ruled the Commissioner of Income Tax (CIT) while dismissing the plea of sports channel Nimbus, which said that it was not liable t o be taxed.

Although the Singapore-based World Sports Nimbus (WSN) has decided to file an appeal against the CIT (Appeals) order with the Income Tax Appellate Tribunal (ITAT), the tax case will have wide implications for foreign companies telecasting live cricket ma tches.

In the present case, assessing officer (AO) imposed a tax liability of Rs six crore on Nimbus on the income it had earned by telecasting live cricket matches during 2002 to 2005.

Nimbus, however, did not agree with the AO's assessment and took up the matter with the CIT but failed to get any relief.

"The CIT has issued an order against the company against which we will be filing an appeal," said the company's Chief Financial Officer Mr Umeet Shah.

The decision of the Income tax Appellate Tribunal in this case will have a bearing on the broadcasters of the high profile Indian Premier League (IPL), Sony-WSG combine.

Nimbus had entered into an agreement with Prasar Bharti in the year 2002 for production and generation of live television signals of cricketing events, both domestic and international in India from February 2002 to October 2004.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Publishing Management System PMS News Management System Publishing Management System Development Online News Management System for media company custom Publishing management system development Survey management system Market Res

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