Business Daily from THE HINDU group of publications
Monday, Aug 20, 2007
ePaper
Business Daily from THE HINDU group of publications Monday, Aug 20, 2007 ePaper |
|
|
|
|
|
|
|
Variety
-
Sports Industry & Economy - Income Tax States - Andhra Pradesh I-T clarification on sports fund
Our Bureau Hyderabad, Aug. 19 Contributions made to the Andhra Pradesh State Sports Development Fund will not be eligible for income-tax deduction, the Centre has clarified. According to an official release, the benefit of 100 per cent deduction has not been extended to contributions made to the AP sports fund, because it does not qualify to be a fund of national importance. Donations made to the national sports fund are eligible for 100 per cent deduction under the provisions of Section 80G (2) of the Income Tax Act, 1961. The Government of Andhra Pradesh had requested for tax exemption to its proposed State Sports Development Fund under the section 80G of the IT Act.
More Stories on : Sports | Income Tax | Andhra Pradesh
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2007, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|