PRESUMPTIVE TAXATION

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This discussion clarifies the tax treatment for state-level cricketers filing their Income Tax Returns (ITR). Income is generally taxable under the 'Business and Profession' head. Specifically, cricketers can benefit from the presumptive taxation scheme under Section 44ADA if their gross receipts are below £50 lakhs, with 50% of gross receipts considered taxable income. This applies even though cricket isn't explicitly listed as a profession in Section 44AA, as cricketers fall under the 'Other sports person' category.

Aakriti

Aakriti (Querist)
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07 September 2020 Hey,
I wish to file ITR of a cricketer playing state level cricket.
Under what source the same would be taxable?
TDS is being deducted u/s 194J.
Thanks

CS Advocate Abhishek Goyal

CS Advocate Abhishek Goyal (Expert)
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08 September 2020 Income from business and profession head.

CS Advocate Abhishek Goyal

CS Advocate Abhishek Goyal (Expert)
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08 September 2020 Income from business and profession head.

Aakriti

Aakriti (Querist)
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08 September 2020 okay accepted. but would that be taxable u/s 44ADA or 44AD if I choose presumptive taxation scheme? As cricket income is not covered in the definition of profession as given u/s 44AA.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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26 September 2021 A cricketer is covered under "Other sports person" under sec. 44AA(1)..
Domestic player who has gross receipts is less than Rs. 50 lakhs can take the benefit of presumptive taxation as per section 44ADA of the Act which provides 50 per cent of the gross receipts to be the presumptive income liable to tax

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