The government hopes to collect Rs 350 crore in taxes from the fourth edition of high voltage Indian Premier League Twenty20 cricket tournament beginning tomorrow. The revenue will accrue to the government as the organisations will be required to deduct tax at source (TDS) while making payments to players, umpires, coaches, commentators and others involved with the tournament.
Besides, the revenue department will also get service tax from services connected with the cricketing extravaganza like advertising, marketing and consultancy.
The Finance Ministry, according to an official, is expecting an increase of 40 per cent in TDS collection and 20 per cent in service tax realisation.
“In the last edition, we collected around Rs 180 crore as TDS. This year we are expecting a growth rate of 40 per cent in the tax collection,” a finance ministry official told.