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Supreme Court Asks UP To Hold Enquiry If Organiser Of Formula One Race Collected Entertainment Duty
The Supreme Court Thursday asked the tax authority of the Uttar Pradesh government to hold an enquiry to ascertain whether organizer of Formula One world championship at the Buddh International Circuit in Greater Noida had collected entertainment duty from the spectators for the events in 2011 and 2012.
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Buddh International Circuit To Remain Open For Events: Sources
Amidst reports claiming India's first and only Formula One racetrack, the Buddh International Circuit, has been sealed over pending land dues, sources in the know have told carandbike that the track will remain open for all events.
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Jaypee May Lose F1 Buddh Circuit If It Doesn't Clear Dues: Officials
Crisis-hit Jaypee group will have to clear dues of Rs 108 crore by the end of this year or otherwise it may lose the 1,000-acre land allotted for its Formula One Buddh International Circuit and Jaypee Sports City, Yamuna Expressway Industrial Development Authority (YEIDA) officials said.
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Hamilton Clarifies Statement About India After Backlash
Earlier this week 2018 Formula 1 World Champion. Lewis Hamilton had stated in an interview about being conflicted to race in India, after seeing the poverty in the country. The statement has not gone down well with Indian fans and citizens alike, prompting a lot of backlash against the Mercedes driver. Following the criticism, Hamilton recently too...
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'F1 Race in India Was Strange Because It Was Such a Poor Place': Lewis Hamilton
World champion Lewis Hamilton has questioned Formula One's policy of organising races in new countries after this month's announcement of the Vietnam Grand Prix. Hamilton told the BBC that he would prefer to see more stops in countries with a genuine racing tradition, rather than expanding to new markets. On the racing side, I don't know how import...
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Formula One Might Return to India Soon
The Indian Grand Prix was first held at the Buddh International Circuit in 2011. Subsequently, Formula 1 returned to India in 2012 and 2013, the latter being the year Sebastian Vettel sealed his 4th world championship (and last with Red Bull). The Indian Grand Prix though has not been held since then due to issues with government taxation even thou...
-
Supreme Court Orders Taxes On Formula 1 For Indian Grand Prix
In a big blow to Formula One's future prospects in India, the Supreme Court has ruled that the Formula 1 World Championship Limited (FOWC) has a permanent establishment in India and as such income accruing from it is taxable.
-
'Difficult to Organise Formula One in India Without Government Support'
India last hosted Formula One in 2013. The high-profile event was taken off the calendar in 2014 owing to tax and bureaucratic hurdles.
-
India Lacks Well-Oiled System to Handle Formula One: David Coulthard
Formula One took place at the Buddh International Circuit (BIC) in Greater Noida for three consecutive years from 2011 to 2013. However, it disappeared from the calendar following tax and administrative hurdles the next year.
-
F1 Will Not Return to Buddh International Circuit in 2015
Bernie Ecclestone clarified that it is too late for a 2015 return of the Indian Grand Prix and the concerned organisers must settle contractual obligations if they wish to keep the hopes of a possible comeback in 2016 alive.
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Mercedes-Benz Announces Season II of the Young Star Driver Programme
Mercedes-Benz India today announced the Season II of its Young Star Driver Program in India. The event will be hosted at the Buddh International Circuit Formula One race track on August 8th 2014.
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Formula One boss Bernie Ecclestone says Indian Grand Prix promoters are defaulters
From Bernie Ecclestone's revelations, it now transpires that the tax and bureaucratic hurdles for the uncertainty of the F1 race returning to the Buddh International Circuit were only a facade and not the only reasons.
-
India not giving up hope of Formula One return
Federation of Motor Sports Clubs of India is hopeful that Formula One race at the Buddh International Circuit will be back in 2016. F1 supremo Bernie Ecclestone has said that the Indian Grand Prix was never part of plans for the 2015 calendar.
-
Bernie Ecclestone rules out Indian Grand Prix in 2015
Dark clouds loom over India's F1 future as according to a Reuters report Formula one boss Bernie Ecclestone confirmed that India won't be hosting the F1 race even in the 2015 season.
-
Formula One: Why the Indian Grand Prix will be missed
There are still a minimum of two races left for India to host as per the current Formula One contract. However, as things stand right now, the drivers and the fans won't get a chance to buckle their seatbelts at the Buddh International Circuit at least till 2015.
-
Supreme Court Asks UP To Hold Enquiry If Organiser Of Formula One Race Collected Entertainment Duty
The Supreme Court Thursday asked the tax authority of the Uttar Pradesh government to hold an enquiry to ascertain whether organizer of Formula One world championship at the Buddh International Circuit in Greater Noida had collected entertainment duty from the spectators for the events in 2011 and 2012.
-
Buddh International Circuit To Remain Open For Events: Sources
Amidst reports claiming India's first and only Formula One racetrack, the Buddh International Circuit, has been sealed over pending land dues, sources in the know have told carandbike that the track will remain open for all events.
-
Jaypee May Lose F1 Buddh Circuit If It Doesn't Clear Dues: Officials
Crisis-hit Jaypee group will have to clear dues of Rs 108 crore by the end of this year or otherwise it may lose the 1,000-acre land allotted for its Formula One Buddh International Circuit and Jaypee Sports City, Yamuna Expressway Industrial Development Authority (YEIDA) officials said.
-
Hamilton Clarifies Statement About India After Backlash
Earlier this week 2018 Formula 1 World Champion. Lewis Hamilton had stated in an interview about being conflicted to race in India, after seeing the poverty in the country. The statement has not gone down well with Indian fans and citizens alike, prompting a lot of backlash against the Mercedes driver. Following the criticism, Hamilton recently too...
-
'F1 Race in India Was Strange Because It Was Such a Poor Place': Lewis Hamilton
World champion Lewis Hamilton has questioned Formula One's policy of organising races in new countries after this month's announcement of the Vietnam Grand Prix. Hamilton told the BBC that he would prefer to see more stops in countries with a genuine racing tradition, rather than expanding to new markets. On the racing side, I don't know how import...
-
Formula One Might Return to India Soon
The Indian Grand Prix was first held at the Buddh International Circuit in 2011. Subsequently, Formula 1 returned to India in 2012 and 2013, the latter being the year Sebastian Vettel sealed his 4th world championship (and last with Red Bull). The Indian Grand Prix though has not been held since then due to issues with government taxation even thou...
-
Supreme Court Orders Taxes On Formula 1 For Indian Grand Prix
In a big blow to Formula One's future prospects in India, the Supreme Court has ruled that the Formula 1 World Championship Limited (FOWC) has a permanent establishment in India and as such income accruing from it is taxable.
-
'Difficult to Organise Formula One in India Without Government Support'
India last hosted Formula One in 2013. The high-profile event was taken off the calendar in 2014 owing to tax and bureaucratic hurdles.
-
India Lacks Well-Oiled System to Handle Formula One: David Coulthard
Formula One took place at the Buddh International Circuit (BIC) in Greater Noida for three consecutive years from 2011 to 2013. However, it disappeared from the calendar following tax and administrative hurdles the next year.
-
F1 Will Not Return to Buddh International Circuit in 2015
Bernie Ecclestone clarified that it is too late for a 2015 return of the Indian Grand Prix and the concerned organisers must settle contractual obligations if they wish to keep the hopes of a possible comeback in 2016 alive.
-
Mercedes-Benz Announces Season II of the Young Star Driver Programme
Mercedes-Benz India today announced the Season II of its Young Star Driver Program in India. The event will be hosted at the Buddh International Circuit Formula One race track on August 8th 2014.
-
Formula One boss Bernie Ecclestone says Indian Grand Prix promoters are defaulters
From Bernie Ecclestone's revelations, it now transpires that the tax and bureaucratic hurdles for the uncertainty of the F1 race returning to the Buddh International Circuit were only a facade and not the only reasons.
-
India not giving up hope of Formula One return
Federation of Motor Sports Clubs of India is hopeful that Formula One race at the Buddh International Circuit will be back in 2016. F1 supremo Bernie Ecclestone has said that the Indian Grand Prix was never part of plans for the 2015 calendar.
-
Bernie Ecclestone rules out Indian Grand Prix in 2015
Dark clouds loom over India's F1 future as according to a Reuters report Formula one boss Bernie Ecclestone confirmed that India won't be hosting the F1 race even in the 2015 season.
-
Formula One: Why the Indian Grand Prix will be missed
There are still a minimum of two races left for India to host as per the current Formula One contract. However, as things stand right now, the drivers and the fans won't get a chance to buckle their seatbelts at the Buddh International Circuit at least till 2015.
