Sports association and institutions approved under section 10(23) of the Income-tax Act, 1961-Clarification Regarding

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..... exemption from tax to any income of an association or institution established in India having as its object the control, supervision, regulation or encouragement in India of the games of cricket, hockey, football, tennis or such other games or sports as the Central Government may specify in this behalf from time to time by notification in the official gazette. The exemption is subject to the fulf .....

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..... three conditions. The first two conditions will also have to be satisfied in order that the approved association or institution is eligible for exemption from tax under section 10(23) of the Act. This requirement will have to be satisfied by filing copies of audited accounts before the Income-tax Officer. Sd/- (R.K. Tewari) Under Secy. Central Board of Direct Taxes.
Circular, Trade Notice, .....

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