Rediff India Abroad
 Rediff India Abroad Home  |  All the sections


The Web

India Abroad

Sign up today!

Article Tools
Email this article
Top emailed links
Print this article
Contact the editors
Discuss this article

Home > Cricket > Reuters > Report

BCCI gets tax exemption for 2006 ICC trophy

May 26, 2005 15:25 IST

The Indian government has cleared the way for the country to host next year's ICC Champions Trophy tournament.

The International Cricket Council (ICC) had said the biennial event, second in importance only to the World Cup, would be given to India provided the proceeds were made tax-free.

The event would have gone to Pakistan, which has already announced a tax-exemption, if the Board of Control for Cricket in India (BCCI) had not got the clearance by the end of May.

"After examining the Indian cricket board's request, a decision was taken that [tax] exemption should be granted," finance minister P Chidambaram announced on Thursday.

India had been the original choice to stage the 2002 edition. However, the government refused to provide tax relief and the event went to Sri Lanka.

The minister said government had decided to extend the benefit to all major sporting events held in India.

"A decision to provide tax exemption to international sporting events would result in awarding of rights to hold the Champions Trophy 2006, but also subsequent international sporting events.

"This will not only promote sports but will also result in revenue gain from various sources, especially tourism," he said.

© Copyright 2006 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Share your comments

 What do you think about the story?

Read what others have to say:

Number of User Comments: 3

Sub: Who Cares

Tax Exemption should not be provided to Cricket Matches. The best is to barred telecasting of Live TV Matches. Then let me see how much ...

Posted by Dinkar Singh

Sub: Why is the government acting so dumb

Wow, Giving tax exemption will be a great benefit for india. Now Indian money can eaisly go out of country. Icc will be more richer. ...

Posted by ajay singh

Sub: Tax Exemption for BCCI

Sir, I beleive such tax exemptions should not be granted to BCCI which is a non-government organization.Allready cricket matches result in a huge loss of ...

Posted by Hersh



Copyright 2006 India Limited. All Rights Reserved.