CBDT Notifies Income Tax Exemption to FIFA: The Central Board of Direct Taxes (CBDT) has notified Federation Internationale de Football Association, for exemption under the clause (39) of section 10 of the Income-tax Act, 1961 (43 of 1961).
Read the official notification No. 126/2022/F. No. 200/8/2022-ITA-I Issued by the Income Tax Department:
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 30th November, 2022
(INCOME TAX)
S.O. 5555(E).—In exercise of the powers conferred by clause (39) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the following as the international sporting event, persons and specified income for the purposes of the said clause namely: –
(a) Federation Internationale de Football Association Under-17 Women’s World Cup, 2022 as the international sporting event;
(b) the Federation Internationale de Football Association, as the person;
(c) income arising from the receipts from National supporters namely; Hero Motocorp Ltd., the Department of Tourism, Government of Odisha, the National Thermal Power Corporation Limited and the Power Grid Corporation of India Limited – rupees twelve crores and fifty lakhs only (Rs. 12,50,00,000/-) as specified income arising to Federation Internationale de Football Association, from organising the Federation Internationale de Football Association, Under-17 Women’s Football World Cup, 2022 in India.
[Notification No. 126/2022/F. No. 200/8/2022-ITA-I]
SOURABH JAIN, Under Secy.
CBDT Notifies Income Tax Exemption to FIFA
FIFA: FIFA exists to govern football and to develop the game around the world. Since 2016, the organisation has been fast evolving into a body that can more effectively serve our game for the benefit of the entire world.
The new FIFA is modernising football to be global, accessible and inclusive in all aspects. Not just on one or two continents, but everywhere.
