The Central Board of Direct Taxes (CBDT) has notified the exemption under section 10(39) of the Income Tax Act, 1961 to the Federation Internationale de Football Association (FIFA) in respect of the income including, receipt from Under-17 Women’s World Cup, 2022 and income arising from the receipts from National supporters.
As per section 10(39) of the Income Tax Act, the Central Government notifies the international sporting event, persons and specified income arising from the National supporters.
A notification issued on Wednesday stated that “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.”
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