Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
Popular Search: ARTICLES ON INPUT TAX CREDIT IN VAT :: TAX RATES - GOODS TAXABLE @ 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT RATES :: list of goods taxed at 4% :: form 3cd :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARD :: TDS :: due date for vat payment :: cpt :: ACCOUNTING STANDARDS :: articles on VAT and GST in India :: VAT Audit :: empanelment
« News Headlines »
 CBDT releases Income Tax Return statistics for last two fiscals
 CBDT issues second round of Certificates of Appreciation to tax payers for their contribution towards Nation building
 FinMin looks at cut in corporation tax
 Draft Rules for prescribing the method of valuation of fair market value in respect of the trust or the institution-Chapter XII-EB of the Income-tax Act, 1961- reg.
 India is moving towards a flawed GST
 ICAI to organise two-day international conference in Hyderabad
 Here's how to calculate tax payable on your capital gains
 Income Tax calculations for the financial year 2016-17
 CPE Events 17 October - 22 October 2016
 High Court raps I-T Department for wrong tax demand
  CBDT signs 5 advance pricing pacts with Indian taxpayers

Brand Sachin untouched by tax woes
December, 12th 2007
Has outstanding tax bill of Rs 1.66 crore

Cricketer Sachin Tendulkar may be continuing to spew fire with the willow all across the globe. But, back home, he appears on a sticky wicket on the tax front.

The Income-Tax Department has pushed the master-blaster to the back foot by delivering an outstanding tax bill of Rs 1.66 crore. Although brand analysts say that his brand value may not have taken any significant knock in recent times, the cricketer has been allowed by the I-T Department to pay the outstanding in monthly instalments.

In fact, sources in the I-T Department say that I-T dues are pending from other cricketers playing First Class cricket as well, but were not able to provide the player-wise details, as it would require compilation of data at all the field formations spread throughout the country.

The sources said Sachin was in the process of filing an appeal with the IT Appellate Tribunal against the order.

When contacted, a senior I-T official here said the outstanding amount of Rs 1.66 crore was fairly a large amount by any standards. The assessee had the right to file an appeal. But if the appeal did not go in favour of the assessee, he had to pay the outstanding within 30 days of the tribunal order along with interest, the official said, adding that the permission to pay the outstanding in monthly instalments was not an uncommon norm in the department. The batting maestro has been known to be associated with several top brands, most of which he still continues to endorse. The brands include AirTel (it pulled the plug off him post the World Cup debacle), Sunfeast, Aviva Life Insurance, Canon India, Adidas and Future Group.

Mr Harish Krishnamachar, Managing Director, Iconix, the agency handling Sachins endorsements, told Business line that the brands he endorsed have stayed with him all along his so-called good and bad times. His brand endorsements deals are today beyond his last 5, 3 or 2 knocks that he has. It is based on the kind of image impression and status that he has built in Indian cricket over time and that is something that is not going to change. Today, his valuation is not based on the past few knocks.

While it could not be confirmed the precise rate charged by Sachin, some reports say that he gets anywhere between Rs 1 crore and Rs 1.5 crore for an endorsement.

A senior official of CelebZ, the celebrity research arm of Mindshare, said that Sachins brand valuation would not have gone up as age was not on his side. At best it could have remained flat or slipped by a few notches, he pointed out.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Development Software Programming Software Engineering Custom Software Development Requirement Based Software Development Software Solutions Software Serv

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions