No income-tax sops for crorepati sportstars
New Delhi: Sachin Tendulkar, Saurav Ganguly or Vishwanathan Anand may not be able to avail themselves of the proposed tax incentive for sportspersons announced by the Finance Minister, Jaswant Singh, last week. For, Finance Ministry sources say that for being eligible for deduction up to Rs 75,000, the Government is considering fixing maximum income level for availing the benefits. Going by the thinking behind the proposed scheme, officials said that sportspersons receiving professional fee over the maximum stipulated amount would not be eligible for the special tax deduction. "The idea is to encourage sportspersons participating in the local and domestic levels and not the celebrity stars," said Revenue Department officials.
Back to News Review index page