IPL runs into income tax trouble

Mumbai: The big bucks involved in IPL could now spell trouble for the BCCI.

The Income Tax department has sent a notice to the BCCI asking for copies of agreements signed between the IPL franchisees and the foreign players.

The IT department is investigating whether tax was deducted at source at the rate of 11.3 per cent when payment was made to the foreign players.

The taxmen have also taken a view that since employment at IPL is of a continuous nature and not a short-term contract, and that the income is being generated on Indian soil, foreign players will have to file returns and pay income tax according to the applicable tax slab.

The BCCI meanwhile is expected to oppose this move on grounds that IPL is a short-term assignment and will only attract TDS deductions.

The BCCI has said that they have replied to the Income Tax department's notice.

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