Notificiation under section 10(39) of the Income tax Act, 1961

## Report on Notification S.O. 5555(E) Regarding Income Tax Exemption for FIFA U-17 Women's World Cup 2022 **1. Executive Summary:** This report analyzes Notification S.O. 5555(E) issued by the Ministry of Finance, Department of Revenue, Central Board of Direct Taxes (CBDT) on November 30, 2022. This notification designates the Federation Internationale de Football Association (FIFA) Under-17 Women's World Cup 2022 as an international sporting event and specifies the associated income that is exempt from income tax under Section 10(39) of the Income-tax Act, 1961. Specifically, it exempts income received by FIFA from national supporters, totaling Rs. 12,50,00,000. This report provides an overview of the notification, its background, key provisions, affected stakeholders, and expected outcomes. **2. Introduction:** The purpose of this report is to provide a detailed analysis of Notification S.O. 5555(E), concerning income tax exemptions related to the Federation Internationale de Football Association (FIFA) Under-17 Women's World Cup 2022, based solely on the information presented in the provided official notification text. **3. Policy Overview:** * This is a *new* policy notification granting income tax exemption. * **Core Objective(s):** To specify an international sporting event (FIFA U-17 Women's World Cup 2022), the relevant recipient (FIFA), and the income arising from national supporters (Hero Motocorp Ltd., the Department of Tourism, Government of Odisha, the National Thermal Power Corporation Limited and the Power Grid Corporation of India Limited) as eligible for income tax exemption under Section 10(39) of the Income-tax Act, 1961. **4. Background and Rationale:** * **Likely Problem/Issue Addressed (Inferred):** The notification aims to encourage the organization of international sporting events in India by providing income tax exemptions to the organizing bodies. This incentivizes organizations like FIFA to host such events, potentially boosting the sports sector and related economic activities. The exemptions likely aim to offset costs and increase the financial viability for organizations to host events in India. **5. Key Provisions / Changes:** * The notification designates the Federation Internationale de Football Association Under-17 Women's World Cup, 2022 as the international sporting event. * The Federation Internationale de Football Association is identified as the person eligible for the exemption. * Income up to Rs. 12,50,00,000 received by FIFA from national supporters (Hero Motocorp Ltd., the Department of Tourism, Government of Odisha, the National Thermal Power Corporation Limited and the Power Grid Corporation of India Limited) is specified as income eligible for exemption. **6. Target Audience and Stakeholders:** * **Directly Affected:** * Federation Internationale de Football Association (FIFA) * National Supporters: Hero Motocorp Ltd., the Department of Tourism, Government of Odisha, the National Thermal Power Corporation Limited and the Power Grid Corporation of India Limited * Central Board of Direct Taxes (CBDT) **7. Implementation Aspects (Inferred):** * **Responsible Agency:** Central Board of Direct Taxes (CBDT) through the Department of Revenue, Ministry of Finance, is responsible for implementing this notification. * **Timelines:** The notification is effective from November 30, 2022, and pertains to the income arising from the specified event held in 2022. * **Procedures:** While the notification doesn't explicitly detail procedures, it can be inferred that FIFA would need to demonstrate that the income received from the listed national supporters is directly related to the organization of the FIFA Under-17 Women's World Cup 2022 to claim the exemption. Supporting documentation and audits may be required to ensure compliance. **8. Expected Outcomes / Impact of Changes:** * The intended outcome is to provide financial relief to FIFA for organizing the Under-17 Women's World Cup in India. * This incentivizes future international sporting events to be held in India by reducing the tax burden on organizing bodies. * The exemption also likely benefits the national supporters by potentially enhancing their corporate image through association with the event. **9. Conclusion:** Notification S.O. 5555(E) provides income tax exemptions for FIFA concerning the Under-17 Women's World Cup 2022, specifically for income received from national supporters. This notification aims to support the hosting of international sporting events in India, demonstrating the government's commitment to promoting sports and related economic activity. The specific nature of this policy may encourage businesses to involve themselves in the sports. The details included show a good case for this.

Key Entities Referenced