Income recd. by athlete

Tax queries 400 views 1 replies

sImRaN

Student CA Final

84 Points Joined March 2013

Is income received by the Athlete , exempt from tax ?

For instance, one person is employed in Military & he gets other Income as an Athlete from sponsers like steel authority of india. so is that income exempt from levy of tax ?

Replies (1)

Guest

If an athlete is professional , his income is taxalbe under Business and Profession, but if such person is amateur sportsman the same income will be taxable as Income from Other Sources.