Did Sachin pay tax for Ferrari?

Sachin Tendulkar receives tax-exemption for importing his Ferrari.

Did Sachin have tax exemption?

During that time, when sachin tendulkar requested for Tax exemption, the government also gave the Cricketing god a complete tax exemption of 1.13 Crores.

Does Sachin pay tax?

According to an analysis by Tax Guru, as per Section 80RR of the Income Tax Act, 1995, Tendulkar had earned Rs 5,92,31,211 from his deals, with ESPN Star Sports, Pepsico and VISA. Meanwhile, during the annual tax deductions, he was charged Rs 1,77,69,363.

Did Sachin buy Ferrari?

Tendulkar acquired the Ferrari 360 Modena in controversial circumstances in 2002. Fiat, the Italian owner of Ferrari, gifted the car to the cricketer, its brand ambassador, when he equalled the record of 29 Test centuries by Australian legend Don Bradman.

Who gifted Ferrari to Sachin?

He got this as a gift from Fiat, in commemoration of his equaling Sir Don Bradman's record of 29 Test hundreds. In a special gesture, the car was handed over to him by none other than F1 great Michael Schumacher. The Ferrari 360 Modena was gifted to the cricketing legend back in the year 2002.

Sachin trades his Ferrari for a Nissan

Who gifted Ferrari to Dhoni?

But nothing beats what Indian skipper MS Dhoni is about to be gifted. A red Ferrari 599 GTO which is also called the GTO India features the colours of our national flag on the hood of the Ferrari. There is no information on who is gifting the car to Dhoni but we suspect it could be Sharad Pawar or maybe Lalit Modi.

What happened to Sachin's Ferrari?

The ''360 Modena Ferrari'', which once occupied pride of place in batting icon Sachin Tendulkar's fleet of premium cars, is now a prized possession of a city businessman. The car was snapped up by Surat-based builder Jayesh B. Shah for about Rs 1.5 crore earlier this month.

Who gifted Sachin Tendulkar car?

The car was gifted to him by FIAT, which manufactures the premium Ferrari cars and endorsed by Tendulkar, after the Indian batting legend equalled Don Bradman's tally of 29 Test centuries.

Is there any LA Ferrari in India?

You Won't Believe What Car Just Landed In Mumbai

The first ever LaFerrari to be seen in India was snapped in Mumbai recently.

What can an actor claim on tax?

Possible tax deductions for actors include business travel, agent fees, union dues, promotional expenses (headshot, demo reel, etc.), among other things. In every trade or business, there are certain deductions that can be claimed relating to the job.

Which government gets revenue from entertainment tax?

In Delhi, movie tickets, large commercial shows and large private festival celebrations may incur an entertainment tax. Entertainment falls in List 2 of the Seventh Schedule of the Constitution of India and is exclusively reserved as a revenue source for the state governments.

Why Sachin is an actor?

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.

When did income tax start in India?

Income-tax Act, 1961 came into existence w.e.f. 1-4-1962. Revenue Audit introduced for the first time in the Department. New system for evaluation of work done by Income-tax Officers introduced.

What is Section 80RR?

Section - 80RR : Deduction in respect of professional income from foreign sources in certain cases - HostBooks.

How many cars Hardik Pandya have?

Hardik Pandya car collection has Mercedes AMG G63, Audi A6, Jeep Compass, Lamborghini Huracan Evo, Mini Cooper Clubman, Mercedes GLC 220, etc. Hardik Himanshu Pandya is an Indian international cricketer who plays for Baroda in domestic cricket and Mumbai Indians in the Indian Premier League.

Which car does KL Rahul have?

Apart from Lamborghini, KL Rahul also enjoys a power-packed ride in his Aston Martin DB11. The grand tourer is powered by a 5.2-litre V12 engine with 630 hp and 700 Nm peak power and torque output. It can zoom from 0 to 100 kmph in just 3.5 seconds and is priced at over Rs 3 crore in India.

Who owns a Ferrari in India?

Mukesh Ambani's Ferrari 812 Superfast

Ambani is India's most influential businessman and owns a fleet of luxury vehicles, one of which is the Ferrari 812 Superfast.

How many people own Ferrari India?

Well there are around 80 to 110 Ferrari's in India from 458 Italia to 488 GTB. Ferrari is one of the best Italian super-cars in world. It attracts very high end customers in India.

How many Ferrari are there in Surat?

2 Ferrari Car Showrooms in Surat - Find Contact & Location Details.

How much did Sachin sold his Ferrari for?

It is said that Mr Desai has paid Sachin Tendulkar Rs. 1.2 crores. Mr Desai has said Sachin's Ferrari is as good as new. It has been driven for about 8,000 kilometres.

How many Ferraris are there in India?

There are an estimated 50 to 60 Ferraris in the country, and the buyers include industrialists Ratan Tata and Gautam Singhania. Cricket icon Sachin Tendulkar sold his car to a Surat-based businessman in 2011.

Who is the brand ambassador of Ferrari?

Ricardo Andres Gutierrez - Ferrari Certified Brand Ambassador - Ferrari | LinkedIn.