From Sachin Tendulkar to Sourav Ganguly: 5 Indian cricketers who were involved in tax dispute
Indian cricketers are one of the world's richest ones, as they earn huge bucks by playing and from endorsements. Some are so highly paid that they need to spend huge taxes. Meanwhile, some have even embroiled themselves in disputes surrounding their taxes.
Cricketers earn huge bucks in the sport, especially the Indian cricketers, who happen to be the world's richest ones. It is mostly because of the Board of Control for Cricket in India being the richest one in the world.
The highly successful Indian cricketers earn both by playing and form endorsements, while they also need to pay a hefty tax for the same. In the same light, we look at some of them who have involved themselves in the tax dispute.
Krishnamachari Srikkanth: The former captain was one of the finest batsmen for Team India. Meanwhile, he is currently into several business activities, like modelling, commentary, journalism and consulting. During his business ventures, the Income Tax Appellate Tribunal reportedly had claimed that Srikkanth had not paid the ₹4.25 crore from the shares he sold through his business. Nonetheless, last year, the ITAT asserted that Srikkanth had entered a non-compete agreement with Pentamedia Group of Concerns for Kris Srikanth Sports Entertainment Private Limited for six years, while ₹ 7.50 crore was exempted from tax.
Parthiv Patel: The ITAT had once supposedly claimed that the former wicketkeeper-batsman had filed an IT return and declared that his income fell under P&G from Business and profession. In contrast, his total revenue was valued ₹31,73,928 and ₹45,88,255 for a couple of different years. However, upon assessment, it was asserted that all his incomes were from cricket, while the sport is not a 'Business or Profession'.
Cheteshwar Pujara: It was in 2012 when Test specialist Cheteshwar Pujara was apparently handed a Service Tax collection order, while he was associated with Kolkata Knight Riders during the Indian Premier League. While he was supposed to appear file the same before the authority, he failed to do so on two occasions. Nonetheless, in 2018, the orders were flattened by the Bombay High Court.
Sourav Ganguly: In a similar scenario like Pujara, Ganguly was seemingly handed a Service Tax notice for his commissions for the articles he wrote for various media houses and TV anchoring and commentary. However, the Calcutta High Court pulverised the show-cause notice against the former Indian skipper, stating that the cause did not attract Service Tax under Business Auxiliary Service.
Sachin Tendulkar: Unquestionably, he continues to be the richest cricketer in the world, despite his retirement. With a net worth of $150 million, he is bound to pay huge taxes and has often entangled himself in similar disputes. In 2017, the ITAT had dismissed a cause, stating that Tendulkar's income from sale and purchase of shares is not a 'Business Income', just because he is a Portfolio Manager. However, the next year, he was believably put in vacancy allowances, under Section 23 of the Income Tax Act, for failing to find a suitable tenant for his Saphire Park flat in Pune.