Tax treatment of match fees received by resident cricketers

This query is : Resolved

SImran (Querist)
Follow

29 February 2020 Sir, please tell what kind of expenses would be allowed against match fees received by Indian cricketers from BCCI.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

29 February 2020 1. Test Matches in India: Amount actually received by the player from the cricket control board is taxable after allowing a deduction of an amount equal to 75% of such receipts in respect of reasonable expenses incurred to earn such income.
2. Other matches in India: Generally the entire receipts by the player from the board will be deemed to have been spent for earning such income and hence not taxable.
3. Matches outside India: A player will be allowed a deduction of 50% of the amount received for playing in foreign countries and the balance will be taxable.

SImran

SImran (Querist)
Follow

03 March 2020 Dear Sir, Please let me know the section which is being referred here. Also which ITR form should I use to file such return. Thanks & Regards

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

03 March 2020 File ITR 3 contact CA nearby he will guide you.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

kavita goel

avulaandcopdrl 2023

divakar podaturu

Ashok Atluri

CA Reshma prabhu

Subscribe Now

Tax treatment of match fees received by resident cricketers

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA