Income Tax Dept Issues Rs 4.62 Crore Demand Notice To Equestrian Federation Of India

The Income Tax Department has issued a demand notice to the Equestrian Federation of India (EFI) for an outstanding amount of Rs 4.62 crore. According to reports, the federation is required to settle this amount within 30 days of receipt of the notice, which has been confirmed by sources affiliated with the Press Trust of India. This development highlights the ongoing scrutiny by tax authorities on sports federations in India, particularly as they relate to financial compliance and transparency. The EFI, which oversees the promotion and regulation of equestrian sports in the country, is now faced with addressing this significant financial obligation, which could impact its operations and funding for various equestrian events. The federation's response and subsequent actions regarding this demand will be closely watched by stakeholders in the sports community, especially amidst increasing calls for financial accountability in sports organizations across India.