World football tourney to face tax blues

After SC upholds tax demand on Formula One, I-T dept sets sight on FIFA Under-17 World Cup

The coming Under-17 FIFA World Cup in India will not only be followed by football fans round the world but also by Indian tax officials, who are expected to keep a close watch on the three-week event in October.

This follows the Supreme Court judgment last week that held the Formula One World Championship (FOWC) in motor racing liable to be taxed in India for the F1 Grand Prix event.

"FIFA can be held to similar tax liability as they have a similar pattern of selling promotional rights, getting playing fields as per international specifications, selling merchandise and broadcasting rights