CBDT vide Notification No. 126/2022 dated 30.11.2022 in S.O. 5555(E) grants income-tax exemption to income of FIFA for organizing the Under-17 Women’s World Cup in India under section 10(39) of the Income-tax Act, 1961.
This was the seventh edition of the FIFA U-17 Women's Football World Cup, since its inception in 2008. The tournament was hosted by India and was heels in October 2022. Earlier it would have hosted the 2020 edition but it was cancelled due to the COVID-19 pandemic. The World Cup was won by Spain by defeating Columbia.
It was the second time that India had hosted a FIFA tournament, after the men's 2017 FIFA U-17 World Cup, and the first time that India hosted a FIFA women's football tournament.
As per section 10(39) of the Act, the Central Government can exempt specified income to a person arising from any international sporting event held in India by notification. The "specified income" is defined to mean the income, of the nature and to the extent, arising from the international sporting event, which the Central Government notifies in this behalf.
With this notification, the government has notified FIFA Under-17 Women’s World Cup, 2022 as the international sporting event as per the provisions of section 10(39) of the Act.
Further, income arising from the receipts from National Supporters namely, Hero Motocorp Ltd., NTPC Ltd., Power Grid Corporation of India Ltd., and Department of Tourism, Govt. of Odisha to the extent of Rs. 12.50 crore shall be the ‘specified income’ which shall qualify for tax exemption under section 10(39) of the Act.
Earlier, in 2017, when the men’s FIFA U-17 World Cup was organized in India, the Government exempted the income of FIFA vide Notification No. 85/2017 dated 26.09.2017.
Read the full text of CBDT Notification No. 126/2022 dated 30.11.2022 on Granting Exemption to FIFA
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 30th November, 2022
(INCOME TAX)
S.O. 5555(E).—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.
[Notification No. 126/2022/F. No. 200/8/2022-ITA-I]
SOURABH JAIN, Under Secy.
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