Income from international sporting event [Section 10(39)]

From the assessment year 2006-07, any specified income of notified person, arising from an
international sporting event held in India is exempt from tax, if the event is approved by the
international body and is notified by the Central Government and has participation by more than two countries.

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Disclaimer: The above article is only for information purpose and is on based on the author’s interpretation of the relevant provision. The same should not be considered as professional advice.