1 Apr 2011

India exempts World Cup from income tax

6:15 am on 1 April 2011

India has approved a proposal to exempt the Cricket World Cup from income tax, meaning a windfall for the tournament of about 13-million dollars.

India granted tax exemption on income to residents and non-residents gained from international sporting events held in India in 2006, in time for that year's ICC Champions Trophy cricket tournament.