Wednesday, September 15, 2010

Yuvraj get service tax notice for 1.15cr

Central customs administration has slapped a apprehension on cricketer Yuvraj Singh of Kings XI Punjab authorization gluttonous acquittal of account tax to the tune of Rs 1.15 crore aloft on his assets from two seasons of IPL and endorsements.

Yuvraj 's tax consultant, while agitation the claims of tax authorities, put the onus on IPL authorization KPH Dream, which owns Kings XI Punjab, for the acquittal of account tax for availing the cricketer's casework in promotional activities during the IPL matches.

"We accept served apprehension on Yuvraj Singh allurement him to pay account tax amounting to Rs 1.15 crore on money he becoming from two IPL seasons and accomplishing endorsements," a chief official of the Central customs department, Chandigarh region, said.

Serving the apprehension by including the assets of Yuvraj beneath 'Business Auxiliary Services' head, the administration has adjourned the account tax amounting to Rs 96.44 lakh from arena two seasons of IPL and Rs 19.53 lakh from accommodating in TV appearance Dus Ka Dum and agreeable in promotional activities for two agencies - Cornerstone Sports and Rhiti Sports.

Central customs administration has affected an assets of Rs 8.51 crore from IPL matches, Rs 99.99 lakh from acceptable Dus Ka Dum appearance aftermost year and Rs 65.30 lakh from promotional activities for two agencies, as per the notice.

The administration had already served notices on three added IPL players VRV Singh, Sunny Sohal and Uday Kaul, allurement them to pay tax of Rs 11.33 lakh, Rs 4.79 lakh and Rs 4.53 lakh, respectively.

The accommodation to appeal tax from candid players follows the non-disclosure of alienation of antithesis by them from IPL matches.

"Players were asked to accord the alienation of their antithesis from candid matches and endorsements but they bootless to accommodate us abstracted figures. Therefore, we accept been affected to burden tax on their income, whether it is bout fee becoming by players from IPL-1 and IPL-II season, afterwards assessing their assets on alone basis," the official said.

Terming as bottomless the apprehension served by tax authorities, Yuvraj's tax adviser Raman Aggarwal said that the cricketer could not be captivated amenable for advantageous account tax for IPL matches.

"It was IPL authorization Kings XI Punjab which asked Yuvraj to participate in promotional activities and it was allotment of the acceding active amid both the parties. The administration should ask Kings XI Punjab for acquittal of account tax," he said.

He said he would be filing a acknowledgment to the apprehension aural 10-15 days.

Aggarwal asserted that back arena candid was the amount action for a amateur while endorsements and promotional activities were accidental or ancillary, there could not be any allegory of money which a amateur becoming from IPL event.

He said that according to an acceding amid amateur and franchise, if a amateur could not participate in promotional activities again his 10 per cent of absolute fee could be retained by the franchise. "At the most, tax can be affected on 10 per cent of assets rather than on the accomplished income."

On tax affected on accommodating in Dus Ka Dum, Aggarwal said that the administration could not authority the money which Yuvraj won from the appearance as account and, therefore, it can not burden account tax on it.

He added said that the two firms were agents of Yuvraj for which he affianced in promotional activities. "Therefore, agents or companies will be advantageous account tax on it," he said.

In February, the administration had asked these players capacity apropos absolute acquittal and a alienation of the money accustomed for arena candid matches and sponsorships.

It additionally accepted archetype of agreements active by players with their authorization owner, absolute acquittal accustomed from authorization owner, account tax allotment number, if obtained, capacity of account tax of paid, copies of account tax returns, if filed, and complete books of accounts and antithesis sheet.


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