I-T department nets Rs 400 cr as IPL III TDS

The department has accrued the amount as Tax Deducted at Source from the remuneration paid to players, umpires, coaches, commentators and from payment of overseas publicity rights.

IT authorities are putting together the ‘final figures’ of TDS collections as they are collecting information from their various offices across the country where the IPL franchises are registered. “The TDS collections from the third edition of the IPL are cruising towards Rs 400 crore mark. The department is finalising the collections from across the country,” a top IT officer said.

The IT department is currently not only probing the source of money into the tournament but is also investigating the “taxation aspects of transactions relating to the Indian Premier League” including the flow of money from offshore destinations into the tournament.

After IPL II ended, the department started collating and collecting the taxes under the TDS category paid by the various franchises to “professionals and professional services”.

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