Net taxable Income of Cricketers in India

Income tax Project
about Virender sehwag
Virender sehwag salary
Virender sehwag house property
Virender sehwag income
Virender sehwag income tax
About Sachin Tendulkar
Sachin Tendulkar salary
Sachin Tendulkar house property
Sachin Tendulkar income
Sachin Tendulkar income tax
about Gautam Gambhir
Gautam Gambhir salary
Gautam Gambhir house property
Gautam Gambhir income
Gautam Gambhir income tax
about V.V.S. Laxman
V.V.S. Laxman salary
V.V.S. Laxman property
V.V.S. Laxman income
V.V.S. Laxman income tax
about Rahul Dravid
Rahul Dravid salary
Rahul Dravid property
Rahul Dravid income
Rahul Dravid income tax
about sreesanth
sreesanth salary
sreesanth property
sreesanth income
sreesanth income tax
Net taxable income of cricketers
Net taxable income of cricketers in India
  • Income tax Project
  • about Virender sehwag
  • Virender sehwag salary
  • Virender sehwag house property
  • Virender sehwag income
  • Virender sehwag income tax
  • About Sachin Tendulkar
  • Sachin Tendulkar salary
  • Sachin Tendulkar house property
  • Sachin Tendulkar income
  • Sachin Tendulkar income tax
  • about Gautam Gambhir
  • Gautam Gambhir salary
  • Gautam Gambhir house property
  • Gautam Gambhir income
  • Gautam Gambhir income tax
  • about V.V.S. Laxman
  • V.V.S. Laxman salary
  • V.V.S. Laxman property
  • V.V.S. Laxman income
  • V.V.S. Laxman income tax
  • about Rahul Dravid
  • Rahul Dravid salary
  • Rahul Dravid property
  • Rahul Dravid income
  • Rahul Dravid income tax
  • about sreesanth
  • sreesanth salary
  • sreesanth property
  • sreesanth income
  • sreesanth income tax
  • Net taxable income of cricketers
  • Net taxable income of cricketers in India

Project/Slides/Presentation Transcript

Topic –  Calculation of Net taxable Income of Cricketers in India

Slide 1 – Net Taxable Income of cricketers in India

Slide 2 –  About Virender Sehwag

Virender Sehwag is one of the leading batsmen in the Indian cricket team. Sehwag is right-handed opening batsman and a part-time right-arm off-spin bowler. He played his first One Day International in 1999 and joined the Indian Test cricket team in 2001.

In April 2009, Sehwag became the only Indian to be honoured as the Wisden Leading Cricketer in the World for his performance in 2008, subsequently becoming the first player of any nationality to retain the award for 2009.

 

Slide 3 – Income under the head salary

Particulars Amount
Central contract by BCCI 1,00,00,000
Fees for test match 4,50,00,000
Fees for ODI 2,60,00,000
Fees for T20 match 3,54,00,000
Income under the head Salary 11,64,00,000

 

Slide 4 – Income from house property

 

Particulars DLOP LOP SOP
Municipal Valuation 10,00,00,000 12,00,00,000 NIL
Fair Rent 8,00,00,000 10,00,00,000 NIL
Higher of Municipal value and fair rent 10,00,00,000 12,00,00,000 NIL
Less: Municipal taxes 2,00,00,000 5,00,00,000 NIL
Net Annual value 8,00,00,000 7,00,00,000 NIL
Less: Deduction u/s 24 NIL NIL NIL
Standard Deductions (30%) 2,40,00,000 2,10,00,000 NIL
Income from House Property 5,60,00,000 4,90,00,000 NIL

 

Slide 5 – Income from other sources

Particulars Amount Amount
Honorary from the state of Delhi 1,00,00,000
Honorary from Haryana govt. 1,00,000
Lifetime passes from Indian Railway

Less Exempt

5,00,000

5,00,000

Nil
Arjuna Award Nil
Cash Reward by DDA 25,00,000
Endorsements 5,00,00,000
Income from other sources 6,26,00,000

 

Slide 6 – Net Taxable Income

Particulars Amount
Income under the Head Salary 11,64,00,000
House Property(5,60,00,000+4,90,00,000) 10,50,00,000
Income from other sources 6,26,00,000
Less: DEDUCTIONS:
Medical Insurance Premium (500000)
Life Insurance Premium (800000)
Donations (350000)
Total Taxable Income 28,23,50,000

 

Slide 7 – About Sachin Tendulkar 

Sachin Ramesh Tendulkar is an Indian cricketer widely regarded as one of the greatest batsmen in the history of cricket. He is the leading run-scorer and century maker in Test and one-day international cricket.

He is the first male player to score a double century in ODI cricket. In 2002, just 12 years into his career, Wisden ranked him the second greatest Testbatsman of all time. Tendulkar was an integral part of the 2011 Cricket World Cup winning Indian team at the later part of his career, his first such win in six World Cup appearances for India.

Slide 8 – Income under the head salary

Particulars Amount(in Rs.) Amount (in Rs.)
Basic  Salary

Retainship fees:

Fees for test matches played.

Fees for ODI

IPL:

For Deal.

For Matches played.

INCOME UNDER HEAD ‘SALARY’

8,10,00,000

1,10,00,000

3,34,00,000

    84,00,000

1,00,00,000

9,20,00,000

4,18,00,000

14,38,00,000

Slide 9 – Income from house property

PARTICULARS AMOUNT  (IN RS.) AMOUNT

(IN RS.)

AMOUNT

(IN RS.)

SELF OCCUPIED PROPERTY.

Net Annual Value.

Less Deductions u/s 24:

>Standard Deductions.

>Interest on Capital Gains.

Income from self occupied house property

NIL

NIL

NIL

 

39,00,00,000

(11,70,00,000)

NIL

NIL

LETOUT PROPERTY

Net annual value

Less deductions u/s 24:

Standard deduction.

Interest on capital borrowings.

Income from let-out house property.

TOTAL INCOME FROM HOUSE PROPERTY

NIL

NIL

NIL

NIL

NIL

NIL

27,30,00,000

Slide 10 – Income from other sources

PARTICULARS AMOUNT (IN RS.) AMOUNT (IN RS.)
Endorsements.

Rewards.

Less: Fully exempt.

Medical insurance paid

TOTAL INCOME FROM OTHER SOURCES.

40,00,000

(40,00,000)

60,00,00,000

NIL

25,000

 

60,00,25,000

Slide 11 – Net Taxable Income

PARTICULARS AMT
Income under the Head Salary 14,38,00,000
Income under House Property 27,30,00,000
Income from other Sources 60,00,25,000
Less: DEDUCTIONS:
Medical Insurance Premium (7000000)
Life Insurance Premium (3200000)
Donations (2350000)
NET TAXABLE INCOME 1,00,42,75,000

Slide 12 – About Gautam Gambhir

Gautam Gambhir  (born on 14 October 1981, in Delhi) is an Indian cricketer, a batsman. He has been a member of the Indian national cricket team since 2003 (ODIs) and 2004 (Tests). Gambhir had been a prolific run-scorer in domestic cricket with an average of over 50.

Gambhir became only the fourth Indian batsman to score a double century in a tour game at home; the previous three being Sunil Gavaskar, Dilip Vengsarkar and Sachin Tendulkar.

On July 2009, for a period of ten days he was the number one ranked batsman in ICC Test rankings.

Slide 13 – Income under the head salary

Particulars Amount(in Rs.) Amount (in Rs.)
Basic  Salary

Retainship fees:

>Fees for test matches played.

>Fees for ODI

IPL:

>For Deal.

>For Matches played.

Less: Deductions under section 16:

          > Entertainment allowances.

          > Professional fees.

INCOME UNDER HEAD ‘SALARY’.

70,00,000

76,00,000

8,83,00,000

    34,00,000

       

      (10,000)

           ——-

1,00,00,000

1,46,00,000

9,17,00,000

(10,000)

11,62,90,000

Slide 14 – Income from house property

PARTICULARS DETAILS AMOUNT
Reasonable lettable value=
Municipal Valuation-(1) nil
Fair Rent-(2) nil
Whichever is higher(1) or (2)=(3) nil
Standard rent-(4) nil
Whichever is lower(3) or (4) nil
 Reasonable lettable value-(5) nil
Rent recievable/ rent received-(6) nil
Reasonable lettable value nil
Whichever is higher(5) or (6) nil
Annual Value nil
Less:municipal taxes paid (nil)
Net Annual Value nil
Less:Deductions u/s 24:
Standard deduction nil
Interest on capital borrowed (24,00,000)
less: exempt 1,50,000 (22,50,000)
INCOME FROM HOUSE PROPERTY-(B) (22,50,000)

Slide 15 – Income from other sources

PARTICULARS AMOUNT (IN RS.) AMOUNT (IN RS.)
Endorsements.

Rewards.

Less: Fully exempt.

Medical insurance paid

TOTAL INCOME FROM OTHER SOURCES.

50,00,000

(50,00,000)

4,00,00,000

 

NIL

30,000

 

4,00,30,000

Slide 16 – Net Taxable Income

PARTICULARS AMOUNT(In Rs.)
1.Income under head ‘salary’.

2.Add: Income from house property.

3.Add: Income from other sources.

4.Less: Deductions.

NET TAXABLE INCOME OF

Gautam Gambhir.

11,62,90,000

(22,50,000)

4,00,30,000

(30,000)

15,40,40,000

Slide 17 – About VVS Laxman

V.V.S. Laxman, is an Indian cricketer. Laxman represents Hyderabad in domestic cricket.Laxman is the great grand nephew of Dr. Sarvepalli Radhakrishnan, former President of India. He was the captain of the Deccan Chargers team in the Indian Premier League in its first year before being replaced by Adam Gilchrist for the next year. In 2011, Laxman was awarded with Padma Shri award, India’s fourth highest civilian award from the Government of India.

Laxman bats right-handed and occasionally bowls off-spin. He is noted for his superb timing and the ability to hit against the spin.

Slide 18 – Income under the head salary

Particulars Amount
Central contract by BCCI 10000000
Fees for test matches 45000000
IPL salary 5000000
Income Under The Head “Salary” 60000000

Slide 19 – Income from house property

Particulars Deemed to be let out property Let out property Self occupied property
Municipal Valuation 150000000 NIL 50000000
Fair Rent 120000000 NIL 35000000
Higher of Municipal  Value and fair rent 150000000 NIL 50000000
Less:Municipal  Taxes 30000000 NIL 15000000
Net Annual Value 120000000 NIL 35000000
Less:Deduction u/s 24 NIL NIL NIL
Standard Deductions(30%) 36000000 NIL 10500000
Income From House Property 840000000 NIL 24500000

Slide 20 – Income from other sources

Particulars Amount Amount
Honorary From the State of Andra Pradesh 7500000
Lifetime passes for Indian Railway

Less:Exempt

500000

500000

NIL
Cash Reward 1500000 2500000
Endorsements 10000000 10000000
Income From Other Sources 20000000

Slide 21 – Net Taxable Income

Particulars Amount
Income Under The Head “Salary” 60000000
Income From House Property 108500000
Income From Other Sources 20000000
Less:Deductions
Medical Insurance Premium (5000000)
Life Insurance Premium (3000000)
Donations (2000000)
NET TAXABLE INCOME 178500000

Slide 22 – About Rahul Dravid

Born on the 11 January 1973 and has been a regular member of the indian cricket team since 1996. Dravid was honoured as one of the top-five Wisden Cricketers of the Year in 2000.Dravid was also awarded the ICC Player of the Year and the Test Player of the Year at the inaugural awards ceremony held in 2004.

He holds the record of having taken the most number of catches in Test cricket.

On November 24, 2011, He became the second international player to reach 13,000 runs in Test Cricket only after Sachin Tendulkar.

On December 14, 2011, he became the first non-Australian cricketer to address at the Bradman Oration in Canberra.

Slide 23 – Income from profession

Particulars Amount
Central contract by BCCI 1,50,00,000
Fees for Test Matches 4,70,00,000
IPL Salary 1,25,00,000
Income from Profession 7,20,00,000

Slide 24 – Income from house property

Particulars Karnataka (SOP) Mumbai (LOP)
Municipal Valuation Nil 9,00,00,000
Fair Rent Nil 7,50,00,000
Higher of Municipal Value and Fair Rent Nil 9,00,00,000
Less: Municipal Tax Nil 4,00,00,000
Net Annual Value Nil 5,00,00,000
Less: Deduction u/s 24 Nil Nil
Standard Deduction (30%) Nil 1,50,00,000
Income from House Property Nil 3,50,00,000

Slide 25 – Income from other sources

Particulars Amount
Honorary from the state of Karnataka. 80,00,000
Cash Reward by Hockey India 25,000
Life Time Achievement Award by NDTV NIL
Endorsements 9,00,00,000
Income from Other Sources 9,80,25,000

Slide 26 – Net Taxable Income

Particulars Amount
Income from Profession 7,20,00,000
Income from Other Sources 9,80,25,000
Income from House Property 3,50,00,000
Less: Deductions
Medical Insurance Premium (500000)
Life Insurance Premium (800000)
Donations (325000)
Total Taxable Income 20,33,75,000

Slide 27 – About Sreeshant

Sreesanth was born on February 6, 1983 in Kothamangalam, Kerala, India, is an Indian cricketer.

He is a right-arm fast-medium-pace bowler and a right-handed tail-ender batsman.

In first class cricket, he plays for Kerala and in the Indian Premier League, he plays for Kochi Tuskers Kerala.

He is the first kerala  Ranji player to play Twenty20 cricket for India.

Sreesanth was a national break dancing champion when he was in eighth grade

Slide 28 – Income under the head salary

Particulars Amount(in Rs.) Amount (in Rs.)
Basic  Salary

Retainship fees:

Fees for test matches played.

Fees for ODI

IPL:

For Deal.

For Matches played.

INCOME UNDER HEAD ‘SALARY’

70,00,000

80,00,000

2,25,00,000

40,00,000

25,00,000

1,50,00,000

2,65,00,000

4,40,00,000

Slide 29 – Income from house property

PARTICULARS AMOUNT  (IN RS.) AMOUNT

(IN RS.)

AMOUNT

(IN RS.)

SELF OCCUPIED PROPERTY.

Net Annual Value.

Less Deductions u/s 24:

>Standard Deductions.

>Interest payable on capital borrowed

(-)exempted

NIL

NIL

NIL

 

NIL

NIL

1000000

(150000)

LETOUT PROPERTY

Net annual value

Less deductions u/s 24:

Standard deduction.

Interest on capital borrowings.

Income from let-out house property.

TOTAL INCOME FROM HOUSE PROPERTY

NIL

NIL

NIL

NIL

NIL

NIL

(850000)

Slide 30 – Income from other sources

PARTICULARS. AMOUNT (IN RS.)
Endorsements.(5)

Rewards.

Less: Fully exempt.

Medical insurance paid

GROSS INCOME:

LESS: DEDUCTIONS under Chapter 5.

Medical Insurance.

TOTAL INCOME FROM OTHER SOURCES:

2,50,00,000

NIL

NIL

2,50,00,000

2,50,000

2,47,50,000

Slide 31 – Net Taxable Income

PARTICULARS Amount
Income under the Head Salary 4,40,00,000
Income under House Property (8,50,000)
Income from other Sources 2,47,50,000
Less: DEDUCTIONS:
Medical Insurance Premium (7,00,000)
Life Insurance Premium (3,20,000)
Donations (2,35,000)
NET TAXABLE INCOME 6,66,45,000

 

Slide 32 – Comparision Of the net taxable income of cricketers

  • Virender Sehwag – Rs.28,23,50,0000
  • Sachin Tendulkar – Rs.1,00,42,75,000
  • Gautam Gambhir – Rs.15,40,40,000

Slide 33 –  Comparision Of the net taxable income of cricketers

  • Rahul Dravid – Rs. 20,50,25,000
  • Sreeshant – Rs. 20,50,25,000
  • V.V.S. Laxman – Rs. 17,85,00,00

 

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