it is the resposibility of franchisees' to deduct the TDS on the service tax where due and credit it to to the income tax dept. the service tax as i understand does not come under income tax that is exempted under dual tax exemtion with respect to countries under agreement. IPL only collects the fee for franchisee' right to participate in IPL matches and certain benefits that go with it as per the terms and conditions. tax matters are between the franchisee and the tax aithoritees.
IPL is a medium to convert black money to white thru benami holdings. Industrialists like Dalmiya, Mutthiah,Lalit modi has become agents thru different franchise like sahara, relaince and hundreds of benami stake holders are investing their black money. lalit modi was like a chit fund manager. Politicians like praful patel, pawar are also getting their cut. This is the reality of corrupt private sector in india. this is the reason why years ago, Indira gandhi nationalised the banking industry otherwise marwari-gujju baniyas will sell the country thru corruption.
he Income Tax department has claimed to have found defaults in the payment of TDS returns by the IPL franchises to various service providers in its ongoing probe into the tournament's finances.
The department in its initial probe has claimed to have found discrepancies by various IPL franchises under the Tax Deducted at Source (TDS) category while making payments to cricket players, commentators, event managers and anchors, among others.
The anomalies have been found in account books and payment documents, which the department has taken during its operations in the IPL probe.
"The discrepancies have been found under the TDS payment categories. The inquiry is still on and once all the franchises are scrutinised, they will be sent notices," a senior I-T official said.
The department is also currently scrutinising documents that various I-T offices have taken from franchises after it conducted nationwide survey operations on them, with the first being on April 15 at the IPL and BCCI premises in Mumbai [ Images ].
Sportspersons, umpires, referees, coaches, trainers, team physicians and physiotherapists, event managers, commentators, anchors, and sports columnists have been categorised as "professionals" and their services have been brought under the TDS bracket in 2008 by the Central Board of Direct Taxes (CBDT).
