Income from pro kabaddi

This query is : Resolved

Munajm (Querist)
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09 January 2017 Player has received income from Pro Kabaddi for playing with specific team and has also received prize for player of the match. Under which head the income will be assessed under business or profession or under income from other sources. TDS has been deducted U/s 194J

CA Amrita Chattopadhyay

CA Amrita Chattopadhyay (Expert)
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11 January 2017 Since the players are professional players and their occupation is playing kabaddi, it would be considered as income from business or profession. The definition of business and profession also includes vocation.

Munajm

Munajm (Querist)
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24 January 2017 Further to the query, want to add few more on it. If the sportsman received two income one is under auction and other is by way of award/prize like man of the match. As already cleared the doubt that income from his profession will be assessed under PGBP, what about the Prize money received, will it be taxed under PGBP or will be taxed as income from other sources and will be taxed at spl rate @30%.

CA Amrita Chattopadhyay

CA Amrita Chattopadhyay (Expert)
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25 January 2017 The prize money received is the resultant of vocation, thus it may be taxed under PGBP. However, I suggest you to take a second opinion as well.

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