BCCI May Lose 905 Crores Due To The Indian Government

BCCI may lose 905 crores due to the Indian government, know the reason.

The Cricket Board of India (BCCI) Annual General Meeting (AGM) was held in Ahmedabad on Thursday 24 December.

All issues have been resolved in this meeting. At the same time, BCCI also had to take that important decision, due to which the board could suffer a loss of more than Rs 900 crore.

Because the International Cricket Council i.e. ICC had given a time limit to the Board of Indian Cricket.

In fact, the ICC had told the BCCI a few months ago that if India were to host the ICC T20 World Cup 2021 and the ICC Cricket World Cup 2023, then the ICC would need a tax exemption.

If the Indian Cricket Board does not do so, then both these World Cups will be held in the UAE rather than India.

However, the Board of Control for Cricket in India has found a way to organize the T20 World Cup next year in India and then the ODI World Cup to be held in 2023.

In the AGM, it has been decided that BCCI Secretary Jai Shah and Treasurer Arun Dhumal will talk to the Central Government to give tax exemption for T20 World Cup 2021 and ODI World Cup 2023. Both the World Cups are to be hosted by India.

At the same time, if the Indian government does not give tax exemption, then the BCCI will suffer a big loss in this situation.

If the central government did not give tax exemption for the T20 and ODI World Cup, then the BCCI agreed that the ICC could deduct the US $ 123 million (about Rs 905 crore) from its revenue.

This is expected to cause a loss of over Rs 900 crore to the board.

The tax exemption dispute between the BCCI and the ICC has been going on since the 2016 T20 World Cup, which was hosted by India.

But the central government did not give tax exemption. Due to this, the ICC had suffered a big loss and the ICC had talked about cutting the BCCI’s revenue.