The Board of Control for Cricket in India (BCCI) has made significant income tax payments in the past fiscal year, highlighting its financial contribution to the country. According to recent data, the BCCI paid a total of Rs 1,159 crore in income tax during the fiscal year 2021-22, which is a substantial increase of 37% compared to the previous year.
Minister of State for Finance, Pankaj Chaudhary, provided a detailed breakdown of the BCCI’s income tax payments, as well as its income and expenditures over the last five years. The figures reveal a consistent growth in tax payments by the cricket governing body.
Total Tax Paid
During the financial year 2020-21, the BCCI paid Rs 844.92 crore in income tax, a decrease from the Rs 882.29 crore paid in 2019-20. However, it’s important to note that the board paid significantly more in the fiscal years preceding 2020-21. In FY2019, the BCCI paid Rs 815.08 crore as taxes, a notable increase from Rs 596.63 crore paid in 2017-18.
The financial data also sheds light on the BCCI’s revenue and expenditure. In the 2021-22 fiscal year, the BCCI generated a revenue of Rs 7,606 crore while its expenditure was close to Rs 3,064 crore. Similarly, in 2020-21, the income stood at Rs 4,735 crore, with expenditure at Rs 3,080 crore.
The BCCI’s financial contributions are crucial not only for the cricketing ecosystem but also for various developmental initiatives in the country. The board’s ability to generate substantial revenue highlights the popularity of cricket in India and its immense commercial potential.
In addition to its financial commitments, the BCCI is currently working on the revised schedule for the ODI World Cup in collaboration with the International Cricket Council (ICC). The World Cup is scheduled to kick off on October 5, and the fixtures have been announced. The tournament holds significant importance for cricket enthusiasts worldwide.
However, there have been requests to reschedule certain matches to avoid conflicts with cultural and festive events. For instance, the proposed India vs Pakistan clash on October 15 coincides with the beginning of the Navaratri festival. As a result, discussions are ongoing to ensure that the matches are scheduled in a way that respects cultural observances.
Overall, the BCCI’s substantial income tax payments reflect its commitment to contributing positively to the nation’s economy. With its ongoing efforts to organize high-profile cricketing events and promote the sport’s growth, the BCCI continues to play a significant role in shaping the landscape of Indian and international cricket.