Global broadcasters making big money from live telecast of cricket matches in India will have to pay taxes in India, ruled the Commissioner of Income Tax while dismissing the plea of sports channel Nimbus, which said that it was not liable to be taxed.
Although the Singapore-based World Sports Nimbus has decided to file an appeal against the CIT (Appeals) order with the Income Tax Appellate Tribunal, the tax case will have wide implications for foreign companies telecasting live cricket matches.
In the present case, assessing officer imposed a tax liability of Rs 6 crore (Rs 60 million) on Nimbus on the income it had earned by telecasting live cricket matches during 2002 to 2005.
Nimbus,
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