How about we tell you that Sachin Tendulkar is an actor rather than a cricketer? Confused? Well, apparently the Indian batsman has been an actor for over 25 years when it comes to taxes. The secret came out from an assessing officer, who had in 2011 accused Master Blaster of enjoying less tax deductions being an actor rather than a professional cricketer.
Notably, Tendulkar argued that the income received from brand endorsements formed a major component of the income. This in turn, makes his argument of being an actor a valid one. Moreover, the income from BCCI for playing the matches has indeed been cited as income from other sources. However, the assessing officer asserted his opinion in the court, stating that Sachin Tendulkar has been a professional cricketer. Therefore, concluding that Master Blaster has primarily pursued cricket as a source of livelihood, making him ineligible of tax deductions as an actor.
Another point from the opposition to debunk Sachin’s arguments stated that brands approach the former cricketer not for his acting skills, but rather for his fame as a sportsperson.
Final verdict from Income Tax Appellate Tribunal
In their final decision, ITAT agreed to Master Blaster’s appeal and granted him to avail deductions without issues. Furthermore, ITAT stated Sachin Tendulkar’s argument correct by reinstating that he can be an Artist as well as a cricketer. Moreover, when Master Blaster comes on the screen, he does not use his cricketing skills, but his acting skills. And as the occupation of endorsing brands or products requires skills that are not cricket related, deductions are fair.