Indian Cricketing Legend, Sachin Tendulkar, claimed a tax exemption of around Rs.2 crores from his income from endorsements by claiming that he is a professional ‘Actor’. Among the many clauses in the Indian Tax act, which are actually more than the population of India and China put together, is the clause ‘Section 80RR’ which states that creative artists such as actors, singers and dancers will get tax exemption for their income.
Mercurial Indian pacer Sreeshanth was the first person to take a cue from his senior team-mate. Sreeshanth has written a letter to the IT dept to exempt all his income from taxes as he claims he is a dancer and a comedian and not a cricketer. Unlike Sachin, Sreeshanth claims that even in the cricket field he is more of an artist than a cricketer. The IT department lawyers will have a real tough time denying that!
Other prominent People who could take advantage of Section 80RR include Ms. Sonia Gandhi, who can claim to be a puppeteer , our Hon. Prime Minister Dr.Manmohan singh, who can claim to be a puppet and Baba Ramdev who can claim to be a ballet dancer.
It has also been reported that several politicians from Tihar Jail are backing an amendment to Section 80RR to include ‘Con-Artists’ also under the head of creative artists. It is learnt that Mr.Suresh Kalmadi and Ms.Kanimozhi are at the fore-front of this movement.
No comments:
Post a Comment