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!
« Top Headlines »
Open DEMAT Account in 24 hrs
 ITR Filing 2025: These individuals are exempt from paying tax. Do they need to file returns?
 Full List Of Trump's Reciprocal Tariffs Announced Wednesday
 Top 5 tax-saving investment options for salaried individuals to consider before March 31, 2025
 5 lesser lesser-known avenues of tax saving you can use to save income tax before March 31, 2025
 March 15 is deadline for last advance tax installment: Know if you must pay

New order taxes
April, 01st 2009

Changing the scene for charitable trusts and non-government organisations across the country once and for all, the commissioner of income tax (CIT)-II on Tuesday announced withdrawal of all exemptions enjoyed by Punjab Cricket Association (PCA). With this, the suspense over a survey carried out by the income-tax department at PCA office more than 10 days back also came to an end.

Even as PCA kept asserting that they were a charitable trust set up to promote sports in the country, the survey couldnt prove that. Besides detecting unaccounted transactions, officials also stumbled upon other violations. Since it does a lot of commercial activities, its not eligible for any tax exemption prescribed under Section 12A of Income Tax Act and all liabilities will have to be paid from financial year 2008-09, said AK Kaushal, CIT-II.

While sources said that PCA had been informed about the same on March 21, two days after the survey, PCA joint-secretary GS Walia expressed ignorance about the order passed by CIT-II. We are a charitable body and will certainly go into appeal, exhausting all available options to seek exemption.

It was on March 19 that a team of income-tax sleuths headed by an additional commissioner of income tax had swooped down on PCA and taken into possession all records and data from its computers. The management was soon served a notice, asking it to clear their position towards tax liabilities, said sources.

Even as hectic activity in this direction began soon after a resident of Ludhiana had sought information of PCAs tax liabilities under the RTI Act, this seems to be the beginning of a series of action. Following this, account books of other cricket associations and sports bodies across the country, including BCCI, will also come under I-T scanner, said officials.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2025 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting