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BCCI, IPL dodged crores in taxes NEW DELHI: The Indian Premier League may be billed as a $1 billion brand but the government got peanuts by way of taxes as the finances of both Board of Control for Cricket in India and various franchisees are obscured by puzzling revenue-income gaps and elaborate tax dodges. BCCI filed returns to the income tax department showing nil income for 2008-09 and earnings of Rs 14.86 crore for 2009-10. Yet, gross revenues earned by the cricket board from IPL for assessment year 2009-10 works out to be Rs 661 crore. On tax dues not realized, the Central Board of Excise and Customs evidence is telling. CBEC realized Rs 94.32 crore by way of service tax with Rs 91 lakh as interest from 2007-10. But as many as 102 showcause notices as on February 1, 2011, raising a demand for service tax of Rs 160 crore, yielded a mere Rs 5 crore. Data provided by the revenue department to Parliaments standing committee on finance shows IPL franchises filed paltry sums as tax deducted at source for 2010-11. India Cements, owners of Chennai Super Kings, filed Rs 12.91 crore, Rajasthan Royals Jaipur Cricket Pvt Ltd Rs 4.53 crore, Deccan Chargers Rs 5.53 crore, Kings XI Punjabs KPH Cricket Rs 4.25 crore, Kolkata Knight Riders Rs 5 crore, GMRs Delhi Daredevils Rs 2.44 crore and Royal Challengers Rs 5.92 crore. Back |
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