CBDT exempts income of ‘Federation Internationale de Football Association’ organizing U-17 world cup in India u/s 10(39) of the IT Act
The CBDT vide Notification No. 126/2022 dated November 30, 2022 notified that the income of the Federation Internationale de Football Association, arising by organizing the Under-17 Women’s World Cup, 2022 in India, shall be exempt under section 10(39) of the Income Tax Act, 1961 (“the IT Act”).
"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."