Mayank Shrivastava, an IISc professor has gone on a rampage against the government’s bizarre policy to exempt the BCCI from paying any kind of tax on its massive revenue from the IPL.
While the players are taxed individually, the BCCI enjoys tax exemptions due to its charitable status.
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Even the franchises that milk lump sum profits of Rs.800-1200 Crores per year enjoy significant tax breaks from the government.
The BCCI has garnered immense profits from the IPL, with revenue from 2023 being Rs.11,770 Crores.
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According to several predictions, the annual revenues from 2024 and 2025 are projected to be around Rs.12,000 to Rs.13,500.
There is not a single reason on earth owing to which the board should enjoy a godly status while our public universities pay GST on even the basic lab equipment.
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The authorities need to step up their game to tax the highly unregulated entertainment industry to ensure better cash flow into research and development.
