The Central Excise Department said it has slapped service tax of Rs 6 crore on the Preity Zinta co-owned KPH Dream Cricket, which is part owner of IPL franchise Kings XI Punjab.
In a drastic step, the the Board of Control for Cricket in India on Sunday unanimously decided to 'terminate' the franchise agreements of Rajasthan Royals and Kings XI Punjab, while sparing the newly-inducted Kochi team.
The Central excise department slapped a notice on King's XI Punjab cricketer Yuvraj Singh seeking payment of service tax to the tune of Rs 1.15 crore raised on his income from two seasons of Indian Premier League (IPL) and endorsements.
A court in Chandigarh on Wednesday issued notice to co-owners of Indian Premier League team Kings XI Punjab, including Bollywood actress Preity Zinta and Ness Wadia, on a suit accusing the Mohali franchise of not filing balance sheets and annual returns.
India all-rounder Yuvraj Singh's mother Shabnam on Friday sought to clear the air on reports that the her son owes a whopping 96.43 lakh in service tax on his income from the first and second Indian Premier League season, saying the King's XI Punjab batsman was paid only for playing and not promotional activity.
The Indian Cricket Board (BCCI) paid a whopping Rs 50 crore as income tax for the year 2013-14, its monthly disclosure on spending has revealed. Giving details of spendings exceeding Rs 25 lakh on its official website, the BCCI also revealed that it paid service tax of Rs 2.74 crore. India's Under-19 and A team coach Rahul Dravid was paid half of his professional fees during the month gone by and the figure for that stood at Rs 1.30 crore. Besides, the Assam Cricket Association was paid Rs 3.37 crore as part of its annual dues for the year 2014-15.
KPH Dream Cricket Pvt Ltd, the owners and promoter of the IPL franchise Kings XI Punjab, has filed a criminal complaint against its title sponsor, NVD Solar Ltd and its officials, for "cheating and duping" them of around Rs 14 crore which they were supposed to pay it as per the contract.
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