Mumbai. One of the best in the country when it comes to earning and saving taxes on them, BCCI today claimed tax exemptions under section 80G for salaries and miscellaneous payments made to players sent on overseas tours.
As per our sources, deep inside the hollowed corridors of the IT department in Mumbai, the BCCI has claimed that payments made to players on overseas tours were kind of donations or charity.
“You see, their main business now is arranging the IPL and One Day series in India. As far as tests are concerned, only test in India to see more than 1000 people was Tendulkar’s last match. So tests are not their business for earning,” the source told our reporter inside the 5th floor toilet.
He agreed to talk to Faking News after making sure there were no hidden cameras with this reporter. Later the same was confirmed when we talked to other senior members of the BCCI.
“The whole idea behind sending players all the way to places like New Zealand is to promote goodwill and boost their (hosts’) morale. Do you think any member in ICC will dare to refuse if we insist they have to come here when we show the money?” the switchboard operator in the BCCI office told our reporter.
“And listen, I am just a contractual employee and I am not married, so I am not anyone’s son-in-law,” he reminded, underscoring the fact that he was speaking the truth without any vested interest.
This irrefutable argument by the BCCI has put the IT department in a fix. They fear that the payments made to players for overseas tour being allowed as donation will give ideas to many other businessmen, apart from other sports bodies like Hockey India.
“Say producers of films that cast Abhisheks or Udays of the world can claim the crores they pay as charity,” an IT commissioner explained.
“No no we cannot allow that. It will open Pandora’s box,” Finance Minister P. Chidambaram reportedly told IT commissioner.
“Political parties don’t have to pay tax, else I’m sure Chidambaram Sir would have accepted the BCCI’s demands,” the IT commissioner claimed, “Congress could also have claimed 500 rupees crores being spent on Rahul Gandhi’s makeover as charity. But this spin is not needed.”
“Let’s do one thing. Let them claim this as donation and warn them that we will slap them notice for entertainment tax over and above IT for IPL,” Chidambaram is reported to have added later, before being pointed out, “But sir, then do we charge entertainment tax on Lok Sabha and Rajya Sabha telecast earnings?”
P. Chidambaram is consulting his Harvard friends and he is really really working hard since then, sources say.