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'Humse 7600 rs pe tax lete hai aur inke liye free' - Fans react as Indian Cricket Board posts huge revenue of INR 7606 Cr in 2021-22 fiscal year

The Indian Cricket Board has payed a substantial income tax of Rs 1,159 crore during the 2021–22 fiscal year.

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Jay Shah

Jay Shah (Source: Twitter)

Jay Shah Jay Shah (Source: Twitter)

The Indian Cricket Board has demonstrated its financial commitment by paying a substantial income tax of Rs 1,159 crore during the 2021–22 fiscal year. This remarkable figure marks a 37 per cent increase compared to the previous year, showcasing the Board's growing financial prowess. Meanwhile, the World's richest Cricket Board also earned around 7600 Crore rupees during the period.

The Union Minister of State for Finance, Pankaj Chaudhary, revealed these significant financial details in a written response to a query in the Rajya Sabha. The disclosure included a comprehensive breakdown of the Board's income tax contributions as well as an overview of its income and expenditures over the past five years based on filed returns.

In the preceding financial year of 2020–21, the Indian Cricket Board paid Rs 844.92 crore in income tax, slightly lower than the Rs 882.29 crore paid in 2019–20. Furthermore, in the fiscal year 2019, the Board paid a substantial Rs 815.08 crore in taxes, showcasing a notable increase from the Rs 596.63 crore paid in 2017-18.

Indian Cricket Board's revenue likely to take a dip in the ongoing fiscal year

With revenues of Rs 7,606 crore generated in the 2021–22 fiscal year and an expenditure of approximately Rs 3,064 crore, the Indian Cricket Board continues to stand as a robust and financially responsible organisation. However, in the ongoing fiscal year, it will be safe to say that the board's revenue might take a hit. As ICB sets to organise the ODI World Cup and expends around Rs 1200 crore on infrastructure developments, it is more likely to get a hit in the financial books.

It is worth noting that India is set to host the ODI World Cup from October 5 to November 19 at a dozen venues across the country. Defending champions England will face New Zealand in the opening game at Narendra Modi Stadium in Ahmedabad. The Indian team will start their campaign against Australia at MA Chidambaram Stadium in Chennai on October 8. The iconic India vs. Pakistan clash will take place on October 14 in Ahmedabad.

Here is how fans react to the board's revenue:

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