- News>
- India
Corporates promised tax exemption on sports sponsorship
New Delhi, Sept 03: Government today said it was considering giving tax exemptions to the corporate sector on sponsorship of sports and it was working on evolving a framework of cooperation in the area with several countries.
New Delhi, Sept 03: Government today said it was considering giving tax exemptions to the corporate sector on sponsorship of sports and it was working on evolving a framework of cooperation in the area with several countries.
"There is need to broad base sports in the country and to
achieve excellence in the area, the support of all
stakeholders including the government, sports associations
and corporates is required," R K Mishra, joint secretary,
Ministry of Youth Affairs and Sports said here.
"They (corporate houses) would be able to avail tax exemption benefits by contributing to the national sports fund while presenting before the country's youth a career option in the field to generate mass involvement," Mishra said at a CII function here.
"Indian sports is a sleeping giant and it will conquer the world for you," he said.
He said the government has signed a Memorandum of Understanding with Australian government while it is working on a framework of cooperation with other countries as well in disciplines such as kabaddi and hockey.
"We are also working on articles of cooperation with Belarus, Egypt, Turkey, Luxembourg, Cyprus, Tunisia and South Korea while the boxers have received training in Cuba," he said.
Mishra said the national sports policy 2001 gives priority to some disciplines and the results would soon be seen.
Bureau Report
"They (corporate houses) would be able to avail tax exemption benefits by contributing to the national sports fund while presenting before the country's youth a career option in the field to generate mass involvement," Mishra said at a CII function here.
"Indian sports is a sleeping giant and it will conquer the world for you," he said.
He said the government has signed a Memorandum of Understanding with Australian government while it is working on a framework of cooperation with other countries as well in disciplines such as kabaddi and hockey.
"We are also working on articles of cooperation with Belarus, Egypt, Turkey, Luxembourg, Cyprus, Tunisia and South Korea while the boxers have received training in Cuba," he said.
Mishra said the national sports policy 2001 gives priority to some disciplines and the results would soon be seen.
Bureau Report