Tax axe over endorsement pacts: Dealers of imported sports goods under taxman’s lens
Does getting a sport star to endorse a brand or sponsoring a sports event be treated as imports? The intelligence arm of the tax department seems to think so. They content many dealers of imported sports goods and equipment unvalued their imports and sign contracts that obligates them to plough a sizeable amount of the value into endorsements and sponsorship deals.
Revenue sleuths are investigating whether Indian dealers who import golf kits, table tennis rackets, badminton rackets and ..