BCCI’s consistent tax payments of Rs 4,298 crore over five years challenge misconceptions. Transparency in finances underscores commitment to financial accountability and shatters prevailing assumptions.
Contrary to prevailing assumptions, the Board of Control for Cricket in India (BCCI) has demonstrated consistent adherence to tax obligations, as disclosed by Union Minister of State for Finance, Pankaj Chaudhary, during a Rajya Sabha session.
Over the past five years, the BCCI has notably contributed a substantial Rs 4,298.12 crore towards income tax. The breakdown of these payments is as follows: Rs 844.92 crore in 2020-21, Rs 882.29 crore in 2019-20, Rs 815.08 crore in 2018-19, Rs 596.63 crore in 2017-18, and an additional Rs 1,159.20 crore in the most recent financial year.
The revelation followed a query posed by member Anil Desai, who sought clarifications on the BCCI’s financial standings and tax contributions. In response, Minister Pankaj Chaudhary stated that the Government does not maintain global data on sports bodies. However, he presented the Income and Expenditure details based on filed income tax returns for the last five years, which illustrated the BCCI’s consistent tax contributions.
The Minister outlined that the BCCI’s financial surplus has been substantial, with Rs 4,542 crore in the 2021-22 fiscal year alone. This adds to surpluses of nearly INR 1650 crore and INR 2700 crore in 2020-21 and 2019-2020, respectively. The tax payments made by the BCCI correspond to these financial successes.
The disclosure showcases the BCCI’s commitment to fulfilling its financial responsibilities, thereby shattering misconceptions surrounding its tax status. The transparency exhibited by the Indian cricket governing body reflects its dedication to financial accountability within the sports arena.