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Group 8 – Cricketers Taxable Income For Previous Year 2010 - 2011
Fagun Mittal 155Saurabh Arya 164 Stuti Agarwal 170Ruchi Mehta 159Keshav Mohan 138Sagar Gosrani 160
FagunMittal 155 • Fagun Mittal 155
Zaheer KhanLeft arm fast bowler for Indian Cricket Team since
2000Claimed maximum wickets in WC2011i.e 21highest Test score by a number 11 batsmen-
75runsHighest partnership for 11th wicket – 133 runsApart from being a bowler, has a restaurant on his
in Pune called ‘ZK’s’33years old ,Born in Shrirampur , Maharashtra
Income from Head SalaryEmployed as Air India Executive
Particulars Amount (Rs) Amount (Rs)
Basic Salary (12 X 25,000) 3,00,000
Add : Dearness Allowance ( 15% of Basic ) 45,000
Add : Entertainment Allowance (12X 2100) 25,200
Add : House Rent Allowance ( Stays with Parents ) 24,000
Perquisites : 1. Life Insurance Premium 14,000
2. Value of Stock Options 16,000
Bonus ( 10% of Basic ) 30,000
Gross Taxable Income 4,54,200
Less : Deductions u/s 16 1. Entertainment Allowance 2. Professional Tax
NIL30,000
NIL
Income Under the head Salary 4,24,200
Income from House PropertyParticulars Mumbai
(Parel) (SOP)Shrirampur
Fair Rent 4,65,00,000 17,00,000
Municipal Valuation 4,00,00,000 3,00,000
Higher of Fair rent & Municipal Valuation 4,65,00,000 17,00,000
Standard Rent Nil 6,00,000
Higher of Reasonable Letable Value and Standard Rent ( 1 )
Nil 17,00,000
Actual Rent ( 2 ) Nil Nil
Gross Annual Value (Higher of 1 and 2 ) Nil 17,00,000
Less : Municipal Taxes Paid Nil 25,000
Net Annual Value Nil 16,75,000
Less : Deductions u/s 24
i) Standard Deduction (30%) Nil -5,02,500
Income From House Property Nil 11,72,500
Income From Business/ProfessionPARTICULARS AMOUNT (Rs.)
Retainership Fees :-
General fees from BBCI (Grade A player) 1,00,00,000
Test Matches(6x7L) 42,00,000
ODI(20x4L) 80,00,000
T20(3xx2L) 6,00,000
IPL 1,44,00,000
Total Income form Business/Profession 3,32,00,000
Particulars Amount (Rs)
Amount(Rs
)
Income from Endorsements(Dabur, Addidas, Airtel Dish TV , Kingfisher , Nike etc)
7,00,00,000
Royalty from Restaurant “ ZK’S – Pune ” 2,00,00,000
Income from Other sources 9,00,00,000
Computation of Income from Other Sources
ExemptionsAll Price Money Received from BCCI for matchesArjuna Award Received from Government of India
Income from Capital GainsParticulars Amount (Rs.)
Gain from Investments in Equity Market with IndiaBulls Financial Services
1,00,000
Total 1,00,000
Related Facts
• House in Parel is Self Occupied and moved in with Actress Isha Sharwani• Born in Shrirampur , Property is
Deemed to be let out and is owned by him.• His brother and Uncle run restaurant
called Zk’s in Pune , Zaheer visits it on his Free Weekends to Promote it.
Particulars Amount (Rs) Amount (Rs)
1. Income under the head salaries 4,24,200
2. Income from house property 11,72,500
3. Profits and Gains from Business / Profession 3,32,00,000
4. Capital Gains 1,00,000
5. Income from other sources 9,00,00,000
Gross Total Income 12,48,96,700
Less : Deductions under Chapter 6 A 41,500
Total Income ( A – B ) 12,48,55,200
Computation of Total Income
• Saurabh Arya 164
Introduction about Virat Kohli
Virat Kohli Born: Nov 05 , 1988, Delhi Team: India, Bangalore Royal
Challengers Batting Style: RHS Bowling Style: RHS Test Debut: NA ODI Debut: vs Sri Lanka -Aug
18, 2008 Twenty20 Debut: vs Zimbabwe -
Jun 12, 2010
Computation of Income from SalaryEmployed as Executive in BPCL
Particulars AmountsBasic Salary 1,00,000
ADD: Dearness Allowance 25,000
Entertainment Allowance 5,000
Premium from Medical Claim Insurance (Fully Exempt)
1,50,000
Leave Encashment (Fully Exempt)
10,000
GROSS TAXABLE INCOME 1,30,000
LESS: Deduction U/S 16
i) Professional Tax 1,000
ii) Entertainment Allowance 5,000
Income under the Head Salary 1,24,000
Computation of Income from House PropertyParticulars New Delhi (SOP)
Fair Rent 1,50,00,000
Municipal Valuation 1,25,00,000
Higher of Fair rent & Municipal Valuation 1,50,00,000
Standard Rent Nil
Higher of Reasonalble Letable Value and Standard Rent ( 1 ) Nil
Actual Rent ( 2 ) Nil
Gross Annual Value (Higher of 1 and 2 ) Nil
Less : Municipal Taxes Paid Nil
Net Annual Value Nil
Less : Deductions u/s 24
i) Standard Deduction (30%) Nil
Income From House Property Nil
Computation of Income from ProfessionParticulars Amount Amount
1. Retainership Fees from BCCI ( Grade B ) 50,00,000
2. Fees from Matches
1. Test Matches Nil
2. ODI ( 30 X 4,00,000) 1,20,00,000
3.T20 ( 3 X 2,00,000 ) 6,00,000
4. IPL 14,00,00,000
3. Endorsements 5,00,00,000
Less : Expenses
A . Fines During Matches
1. IPL 2,00,000
2. ODI 50,000 2,50,000
Income from Professional 20,73,50,000
Income from Other Sources
Particulars Amount Amount
Dividend
World Cup Ltd 8,00,000
ADD: T.D.S 2,00,000 10,00,000
Winning from betting 5,00,000
Gifts(non-family) 4,00,000
Rewards Received
Delhi Govt. 50,00,000
BCCI 1,00,00,000 Exempted
Total 19,00,000
Particulars Amount (Rs) Amount (Rs)
1. Income under the head salaries 1,24,000
2. Income from house property Nil
3. Profits and Gains from Business / Profession
20,73,50,000
4. Capital Gains 45,00,000
5. Income from other sources 19,00,000
Gross Total Income 21,38,74,000(A)
Less : Deductions under Chapter 6 A 1,50,00,000 1,50,00,000(B)
Total Income ( A – B ) 19,88,74,000
Computation of Total Income
• Stuti Agarwal 170
Yuvraj Singh is an Indian cricketor. He has been a member of the Indian cricket team since 2000 (ODIs) and played his first Test match in 2003. He was the vice captain of the ODI team from late-2007 to late-2008.
At the 2007 World T20 he hit six sixes in an over against England. He was named the Man of the Tournament in the 2011 Cricket World Cup.
The Kings XI Pubjab's highest-paid player is Yuvraj Singh, making him the third richest cricketer over the last 12 months. Singh, who's 27 years old, was once awarded a Porsche 911 and $250,000 as a prize for his batting achievements in a
tournament.
Particulars Amount
Salary(500000*12) 60,00,000
Dearness allowance 7,30,000
Entertainment allowance(4000*12) 48,000
Conveyance allowance 4,00,000
Perquisites 2,00,000
Gross salary 73,78,000
Less: deduction u/s 16
Entertainment allowance Nil
Profession tax 50,000
INCOME FROM THE HEAD SALARIES 73,28,000
Income from salary
Particulars Amount
Retainership fees 50,00,000
Fees from matches•Test matches7,00,000*3)•ODI(4,00,000*15)•T20(2,00,000*6)•IPL
21,00,00060,00,00012,00,0004,50,00,000
Less: expenses
fines 5,00,000
Income from profession 5,88,00,000
Income from profession
PARTICULARS AMOUNT(RS)
AMOUNT(S)
Income from endorsements 65,30,000
Awards and winnings from IPL 4,00,00,000
Income from winning ‘dus ka dum’ 99,99,000
Income from other sources 5,65,29,000
Income from other sources
Yuvraj Singh, named player of the tournament, endorses Reebok and
Birla Sun Life Insurance Co. His annual fee just jumped to 60 million
rupees ($1.3 million) from 45 million rupees before the event.
He earned $1 million from the team and another $4 million from
endorsements, primarily from Reebok and Fiat
Central Excise Department of India has served the notice to Yuvraj
Singh to pay Rs. 1.15 Crore as Service tax on the income of IPL and the
Endorsement. The legal notice has been also sent to Yuvraj Singh for
them.
Particulars Delhi(DLOP)
Chandigarh(SOP)
Municipal Valuation 7,50,00,000 NIL
Fair Rent 4,50,00,000 NIL
Higher of Municipal Value& Fair Rent 7,50,00,000 NIL
Standard Rent NA NIL
Gross Annual Value(GAV) 750,00,000 NIL
Less: Municipal Taxes 50,00,000 NIL
Net Annual Value 7,00,00,000 NIL
Less: Deduction u/s 24
Standard Deductions (30%) 2,10,00,000 NIL
INCOME FROM HOUSE PROPERTY 4,90,00,000 NIL
Income from house property
PARTICULARS AMOUNT
Income from Salaries 73,28,000
Income from profession5,88,00,000
Income from Other Sources 5,65,29,000
Income from House Property 4,90,00,000
Less: DEDUCTIONS:
Medical Insurance Premium 12,00,000
Life Insurance Premium 2,00,000
Donations 20,00,000
NET TAXABLE INCOME 16,82,57,000
Computation Of Net Taxable Income
• Ruchi Mehta 159
Full name: Suresh Kumar RainaBorn: November 27, 1986, Muradnagar,
Ghaziabad, Uttar PradeshCurrent age: 25 yearsMajor teams: India, Chennai Super Kings Also known as: SanuPlaying role: Batsman
Particulars Amount (Rs) Amount (Rs)
Basic Salary (12 X 33,000) 3,96,000
Add : Dearness Allowance ( 15% of Basic ) 59400
Add : Transport Allowance (12X 5000) 60,000
Less : Exempt (800X12) (9,600) 50,400
Perquisites : 1. Value of Accommodation 15,000
2. Medical Insurance Premium 22,000
Less: Not taxable (22,000) NIL
Gross Taxable Income 5,20,800
Less : Deductions u/s 16 1. Entertainment Allowance 2. Professional Tax
NIL20,000
(20,000)
Income Under the head Salary 5,00,800
Computation of Income from SalaryEmployed in IOC Ltd.
Computation of Income from House PropertyParticulars Mumbai
(SOP)
Lucknow
Fair Rent (A) - 50,00,000
Municipal Valuation (B) - 35,00,000
Higher of Fair rent & Municipal Valuation (C) - 50,00,000
Standard Rent (D) - 10,00,000
Reasonable Letable Value (E) - 10,00,000
Actual Rent (F) - 2,40,000
Gross Annual Value (Higher of E and F ) NIL 10,00,000
Less : Municipal Taxes Paid NIL (90,000)
Net Annual Value NIL 9,10,000
Less : Deductions u/s 24
i) Standard Deduction (30%) NIL (2,73,000)
Income From House Property Nil 6,37,000
Computation of Income from ProfessionParticulars Amount Amount
1. Retainership Fees from BCCI ( Grade A ) 1,00,00,000
2. Fees from Matches
1. Test Matches (3 X 7,00,000) 21,00,000
2. ODI ( 25 X 4,00,000) 1,00,00,000
3.T20 ( 3 X 2,00,000 ) 6,00,000
4. IPL 1,65,00,000
Less : Expenses
A . Fines During Matches
1. IPL (2,00,000)
Income from Profession 3,31,50,000
Particulars Amount (Rs) Amount (Rs)
1. Income under the head salaries 5,00,800
2. Income from house property 6,37,000
3. Profits and Gains from Business / Profession
3,31,50,000
4. Capital Gains 5,00,000
5. Income from other sources 99,000
Gross Total Income 3,48,86,800(A)
Less : Deductions under Chapter 6 A 32,00,000(B)
Total Income ( A – B ) 3,16,86,800
Computation of Total Income
MS Dhoni
• Keshav Mohan 138
Income from SalariesEmployed as PRO in Indian Railways
Particulars AmountsBasic Salary 3,00,000
ADD: Dearness Allowance 45,000
Entertainment Allowance 5,000
Premium from Medical Claim Insurance 2,00,000(Exempt)
Payment from Statutory Provident Fund 1,50,000(Exempt)
Leave Encashment 13,500 (Exempt)
GROSS TAXABLE INCOME 3,50,000
LESS: Deduction U/S 16
i) Professional Tax 1,000
ii) Entertainment Allowance 5,000
Income Under The Head Salaries 3,44,000
Income from House PropertyParticulars Ranchi Delhi Kolkata Chennai
Fair Value 15,00,000 3,00,000 1,70,000 40,00,000
Municipal Valuation 20,00,000 7,50,000 1,50,000 40,00,000
HIGHER OF FV & MV 20,00,000 7,50,000 1,70,000 40,00,000
Standard Rent NA 7,20,000 1,75,000 --
RLV<STANDARD RENT NA 7,20,000 1,70,000 --
Actual Rent NA 7,30,000 1,90,000 --
GAV(HIGHER OF THE 2) 0 7,30,000 1,90,000 --
LESS: Municipal Taxes Paid NA 76,000 20,000 --
NAV NA 6,54,000 1,70,000 --
LESS: Deductions U/S 24
i) Standard Deduction (30%) NA 1,96,200 51,000 --
INCOME FROM HOUSE PROPERTY
NIL 4,57,800 1,19,000 NIL
Income from House Property
•The house in Ranchi is self occupied.
•The house in Kolkata is an old property that has been let out for
many years now.
•The house in Delhi is deemed to be let out.
•The land in Chennai has no income from house property as it is
used for business.
•The Jharkhand and Mussourie estates are only promises.
Income from Business/Profession
Particulars AmountA) Retainership Fees
General fee from BCCI 1,00,00,000
Test Matches 77,00,000
ODI 96,00,000
T20 48,00,000
IPL 7,00,00,000
B) Sports Academy in Chennai Nil
TOTAL INCOME FROM BUSINESS/PROFESSION: Rs.10,21,00,000
Income from Capital GainsParticulars Amount
Sale Price 20,00,00,000
LESS: Expenses on Transfer 50,00,000
Net Sale Consideration 19,50,00,000
LONG TERM CAPITAL GAIN 19,50,00,000
LESS: Exemption U/S 54
I) Cost of Purchase of New House(New Delhi)
5,00,00,000
Income from Other SourcesParticulars Amount Amount
Dividend
World Cup Ltd 10,00,000
ADD: T.D.S 2,00,000 12,00,000
Winning from betting in Derby 5,00,000
Endorsements 40,00,00,000
Rewards Received
Delhi Govt. 2,00,00,000
BCCI 1,00,00,000 Exempted
NOTE: The Central Govt. has notified that govt. rewards are exempted.
Particulars Amount (Rs) Amount (Rs)
1. Income under the head salaries 3,44,000
2. Income from house property 5,76,800
3. Profits and Gains from Business / Profession 10,21,00,000
4. Capital Gains 24,50,00,000
5. Income from other sources 40,17,00,000
Gross Total Income 74,97,20,800(A)
Less : Deductions under Chapter 6 A U/S 80 C Interest on NSCU/S 80 D Mediclaim (limited to 15,000)
75,00015,000
90,000(B)
Total Income ( A – B ) 74,96,30,800
Computation of Total Income
Rohit SharmaSagar Gosrani 160
Introduction about Rohit Sharma
He made his ODI debut against Ireland at Belfast ,although he did not bat in the match
Sharma made his mark at the international stage by hitting an unbeaten fifty against South Africa in the 2007 Twenty20 World Cup and a 16-ball 30 against Pakistan in the final of the tournament.
Sharma played the first three seasons of IPL for Deccan Chargers and in the players' auction for IPL 4, he was sold for $2m to Mumbai Indians.
Rohit Sharma was born to Telugu parents . Sharma completed his primary education at Our Lady School , Mumbai .
Residential Status of Rohit Sharma
Particulars Departure Arrival
Australia 30th April 2010 15th May 2010
England 5th June 2010 4th July 2010
West Indies 1st January 2011 23rd February 2011
Days Outside India during previous year 2010- 11 is 100 Days .
So Rohit Sharma is an Ordinary Resident for Previous year 2010 – 11.
Particulars Amount (Rs) Amount (Rs)
Basic Salary (12 X 20,000) 2,40,000
Add : Dearness Allowance ( 15% of Basic ) 36,000
Add : Entertainment Allowance (12X 2000) 24,000
Add : House Rent Allowance ( Stays with Parents ) 24,000
Perquisites : 1. Life Insurance Premium 15,000
2. Value of Stock Options 12,000
Bonus ( 10% of Basic ) 24,000
Gross Taxable Income 3,75,000
Less : Deductions u/s 16 1. Entertainment Allowance 2. Professional Tax
NIL30,000
NIL
Income Under the head Salary 3,45,000
Computation of Income from SalaryEmployed as Reliance Executive.
Computation of Income from House PropertyParticulars Bandra
(SOP)Nagpur
Fair Rent 2,50,00,000 20,00,000
Municipal Valuation 2,00,00,000 5,00,000
Higher of Fair rent & Municipal Valuation 2,50,00,000 20,00,000
Standard Rent Nil 10,00,000
Higher of Reasonable Let able Value and Standard Rent ( 1 )
Nil 20,00,000
Actual Rent ( 2 ) Nil Nil
Gross Annual Value (Higher of 1 and 2 ) Nil 20,00,000
Less : Municipal Taxes Paid Nil 50,000
Net Annual Value Nil 19,50,000
Less : Deductions u/s 24
i) Standard Deduction (30%) Nil - 5,85,000
Income From House Property Nil 13,65,000
•The house in Bandra is self occupied by Rohit Sharma and his family
•The house in Nagpur is deemed to be let out as no it is not given on rent and is used as vacation house by him and is owned by Rohit Sharma .
•He also has land in Nagpur with a cost of Rs 20,00,000.
Computation of Income from ProfessionParticulars Amount Amount
1. Retainership Fees from BCCI ( Grade C ) 25,00,000
2. Fees from Matches
1. Test Matches Nil
2. ODI ( 15 X 4,00,000) 60,00,000
3.T20 ( 2 X 2,00,000 ) 4,00,000
4. IPL 8,80,00,000
3. Income from Endorsements 2,50,00,000
12,19,00,000
Less : Allowable Expenses
A . Fines During Matches
1. IPL 1,00,000
2. ODI 50,000 1,50,000
Income from Professional 12,17,50,000
Income from Capital GainsParticulars Amount
(Rs )Amount (Rs.)
Gains from sale of Long term Investments in Equity Market in Reliance Ltd
53,71,143
Full Value of Consideration
Gains from sale of Car – BMW 5 Series bought in 07 – 08
25,00,000
Less : Cost of Acquisition ( 30,00,000 X 711 ) 551
38,71,143 (13,71,143 )
Total Capital Gains 40,00,000
Particulars Amount (Rs) Amount(Rs)
Award from Maharashtra GovtLess : Fully Exempt
5,00,0005,00,000
Nil
Dividends from shares of Reliance Ltd, 45,000
Gifts from Friends 15,00,000
Gifts from Relatives 5,00,000
Less : Fully Exempt 5,00,000 Nil
Royalty from Perfume Firm “ Rohit ‘s Signature ” 5,55,000
Income from Other sources 21,00,000
Computation of Income from Other Sources
ExemptionsAll Prize Money Received from BCCIArjuna Award Received from Government of India
Particulars Amount (Rs) Amount (Rs)
1. Income under the head salaries 3,45,000
2. Income from house property 13,65,000
3. Profits and Gains from Business / Profession
12,17,50,000
4. Capital Gains 40,00,000
5. Income from other sources 21,00,000
Gross Total Income 12,95,60,000(A)
Less : Deductions under Chapter 6 A 1. Investments in 54 – EC REC Bond 2. Investment in NSC 3. Medical Insurance Premium of Parents and Self ( 15,000 + 5,000)
50,00015,00015,000
20,000
50,000(B)
Total Income ( A – B ) 12,95,10,000
Computation of Total Income
Comparison of All the Cricketers
Comparison Particulars Zaheer
KhanVirat Kohli
Yuvraj Singh
Suresh Raina
MS Dhoni
Rohit Sharma
1. Income under the head salaries
4,24,200 1,24,000 73,28,000 5,00,800 3,44,000 3,45,000
2. Income from house property
11,72,500 Nil 5,88,00,000 6,37,000 5,76,800 13,65,000
3. Profits and Gains from Business / Profession
3,32,00,000
20,73,50,000 5,65,29,000 3,31,50,000 10,21,00,000 12,17,50,000
4. Capital Gains 1,00,000 45,00,000 4,90,00,000 5,00,000 24,50,00,000 40,00,000
5. Income from other sources
9,00,00,000
19,00,000 12,00,000 99,000 40,17,00,000 21,00,000
Gross Total Income 12,48,96,700 21,38,74,000(A) 2,00,000 3,48,86,800(A) 74,97,20,800(A)
12,95,60,000(A)
Less : Deductions under Chapter 6 A
41,500 1,50,00,000(B) 20,00,000 32,00,000(B) 90,000(B) 50,000(B)
Total Income ( A – B ) 12,48,55,200
19,88,74,000
16,82,57,000
3,16,86,800
74,96,30,800
12,95,10,000
Conclusion
The Highest income among our Group ‘ s cricketers in of M S Dhoni .
Also the cricketers have a major portion of earnings from Profession which is by virtue of their IPL Contracts and Endorsement money which they receive .
Also not many cricketers have a lot of Deductions taken by them .
Thank You