How Much Tax Will Be Levied on the Pension of Kambli, Ganguly, Yuvraj, and Ashwin?
The Board of Control for Cricket in India (BCCI) provides pensions to retired cricketers based on the number of Test matches they have played. This pension amount ranges from ₹30,000 to ₹70,000 per month. However, like salaries, pensions are also taxable under income tax laws.
Let’s break down the pension structure, taxation rules, and how much tax these cricketers will pay.
Pension Amounts for Retired Indian Cricketers
Under the BCCI pension scheme, retired cricketers receive a monthly pension based on the number of Test matches played:
- Vinod Kambli (17 Tests) – ₹30,000 per month
- Yuvraj Singh (40 Tests) – ₹60,000 per month
- Ravichandran Ashwin (106 Tests) – ₹70,000 per month
- Sourav Ganguly (113 Tests) – ₹70,000 per month
Many other retired cricketers also benefit from this pension scheme.
Is Pension Taxable?
Yes, pensions are taxable just like salaries. However, some tax benefits can be availed:
✅ Under Section 80C of the Income Tax Act, 1961, up to ₹1.5 lakh per year can be claimed as a tax deduction if invested in a pension plan.
✅ There are two types of pensions:
1️⃣ Commuted Pension – If received as a lump sum, part of it can be tax-free.
2️⃣ Uncommuted Pension – If received monthly, it is fully taxable as regular income.
Income Tax Slabs for FY 2023-24
| Annual Income (₹) | New Tax Regime | Old Tax Regime |
|---|---|---|
| 0 – 2,50,000 | Tax-Free | Tax-Free |
| 2,50,001 – 5,00,000 | 5% | 5% |
| 5,00,001 – 7,50,000 | 10% | 20% |
| 7,50,001 – 10,00,000 | 15% | 20% |
| 10,00,001 – 12,50,000 | 20% | 30% |
| 12,50,001 – 15,00,000 | 25% | 30% |
| Above 15,00,000 | 30% | 30% |
Tax Calculation on Cricketers’ Pensions
🔹 Vinod Kambli
- Monthly pension: ₹30,000
- Annual pension: ₹3,60,000
- Since his total income is within the tax-exempt limit, he does not have to pay tax.
🔹 Yuvraj Singh
- Monthly pension: ₹60,000
- Annual pension: ₹7,20,000
- His net worth is ₹320 crore, so he already falls into the 30% tax bracket due to other income sources. His pension will be added to his total income and taxed accordingly.
🔹 Ravichandran Ashwin & Sourav Ganguly
- Monthly pension: ₹70,000
- Annual pension: ₹8,40,000
- Ganguly’s net worth is ₹700 crore, and Ashwin’s is ₹120 crore, so they both fall into the 30% tax bracket. Their pension will be fully taxable along with their other income sources.
Conclusion
- Vinod Kambli pays zero tax on his pension.
- Yuvraj Singh, Ganguly, and Ashwin fall into the 30% tax slab, so their pension will be taxed as per their total income.
- The pension alone may not be taxed at 30%, but since their total income is high, it gets added to their taxable earnings.
This rule applies to all retired cricketers receiving a BCCI pension, making it essential to plan their finances accordingly.