IPL second edition to come under tax net

The multi-million dollar Indian Premier League, 2009, may come under the tax net even though it was held outside the country, in South Africa.

Income Tax sources said the IPL will fetch revenue under the Tax Deducted at Source (TDS) category as the department feels the tournament, although played outside the country, was conducted by the BCCI, which is registered in India.

They said the IPL, held in April-May this year, is not registered as a separate organisation and will fetch revenue as section 194E of the I-T Act enables deduction at source at the rate of 10 per cent before a fee is paid to a non-resident sportsperson.

The BCCI has filed its returns for 2008-09 with the I-T department a few days back.