rangeelaraja Posted October 5, 2021 Share Posted October 5, 2021 4 minutes ago, Trichromatic said: Tell me what's was the profession of SRT in 2020 and under which profession did he make endorsement money last year. He is still doing ads for mutual funds. https://www.indiatoday.in/magazine/nation/story/20110606-actor-sachin-tendulkar-gets-tax-break-746247-2011-05-27 The year in question is 2011. Was his primary profession a cricketer or commercial model at that time ???? Link to comment Share on other sites More sharing options...
Trichromatic Posted October 5, 2021 Share Posted October 5, 2021 2 minutes ago, rangeelaraja said: https://www.indiatoday.in/magazine/nation/story/20110606-actor-sachin-tendulkar-gets-tax-break-746247-2011-05-27 The year in question is 2011. Was his primary profession a cricketer or commercial model at that time ???? Please answer the question I asked there. That will help both of us in understanding. Link to comment Share on other sites More sharing options...
rangeelaraja Posted October 5, 2021 Share Posted October 5, 2021 7 minutes ago, Trichromatic said: Of course everyone cleared by court is criminal. You want to be deliberately dishonest and live in denial, suit yourself. Even an illiterate poor in India knows the laws are different for different people. Sanjay Dutt spent a lions share of his jail time out on parole. Link to comment Share on other sites More sharing options...
rangeelaraja Posted October 5, 2021 Share Posted October 5, 2021 Just now, Trichromatic said: Please answer the question I asked there. That will help both of us in understanding. I asked a question first - you don’t have an honest answer just move on. What was his primary profession in 2011 when he was claiming to be a professional artiste while his cricketing income was “other income “ ? Link to comment Share on other sites More sharing options...
rangeelaraja Posted October 5, 2021 Share Posted October 5, 2021 @Trichromatic yeah law is “ fair and equal “ in India https://www.google.com/amp/s/www.hindustantimes.com/mumbai-news/sanjay-dutt-was-out-on-parole-half-the-time-why-did-govt-still-release-him-early-bombay-hc/story-EHIKOWCghfOPGRdaOsmBgJ_amp.html Link to comment Share on other sites More sharing options...
Trichromatic Posted October 5, 2021 Share Posted October 5, 2021 7 minutes ago, rangeelaraja said: I asked a question first - you don’t have an honest answer just move on. What was his primary profession in 2011 when he was claiming to be a professional artiste while his cricketing income was “other income “ ? 1. You didn't ask question earlier. You labelled SRT as fraud by your own understanding. 2. Let's say I don't know what was his profession. Anyway my understanding of law is limited. Please educate me what's your expert opinion about SRT's profession in 2020. If he goes by your standards of honesty when should he fill in his returns this year? coffee_rules 1 Link to comment Share on other sites More sharing options...
rangeelaraja Posted October 5, 2021 Share Posted October 5, 2021 (edited) 4 minutes ago, Trichromatic said: 1. You didn't ask question. You labelled SRT as fraud by your own understanding. 2. Let's say I don't know what was his profession. Please educate me what's your expert opinion about SRT's profession in 2020. If he goes by your standards of honesty when should he fill in his returns this year? Was the article about falsification in 2011 or 2020 ? does your primary profession have to remain the same in 2011 and 2020 ? Nobody except you ( and the largely corrupt unequal law in India ) will buy this intellectually dishonest logic. Edited October 5, 2021 by rangeelaraja Link to comment Share on other sites More sharing options...
Trichromatic Posted October 5, 2021 Share Posted October 5, 2021 4 minutes ago, rangeelaraja said: Was the article about falsification in 2011 or 2020 ? does your primary profession have to remain the same in 2011 and 2020 ? Nobody except you ( and the largely corrupt unequal law in India ) will buy this intellectually dishonest logic. No, let's admit that you have clear understanding and as an expert in taxation whatever you're saying is correct. SRT was a criminal who escaped only because court allowed him to do so, although he broke the law in 2011. Now that's settled, next question given your such knowledge on taxation - what was SRT's profession in 2020 and under which profession he made endorsement money? If SRT has to go by your level of honesty, what should he mention as profession in his return this year? Link to comment Share on other sites More sharing options...
Real McCoy Posted October 5, 2021 Share Posted October 5, 2021 @Trichromatic Regarding Sachin, legal - more likely, lawful - don't think so. Anyone who is rich can afford good legal teams and accountants and can get away with stuff like this unless he commits an obvious sin. I don't blame sachin only the legal system and taxation Link to comment Share on other sites More sharing options...
Trichromatic Posted October 5, 2021 Share Posted October 5, 2021 3 minutes ago, Real McCoy said: @Trichromatic Regarding Sachin, legal - more likely, lawful - don't think so. Anyone who is rich can afford good legal teams and accountants and can get away with stuff like this unless he commits an obvious sin. I don't blame sachin only the legal system and taxation Even an IT engineer earning 50k in India is able to save taxes by multiple declarations of which some are opinionated and some are false although they aren't exactly rich like SRT. At least what SRT did was known, challenged and accepted legally. Link to comment Share on other sites More sharing options...
Mariyam Posted October 5, 2021 Share Posted October 5, 2021 34 minutes ago, rangeelaraja said: Was Sachin getting ads because he was a cricketer ? Or did he play cricket because he was doing ads ? If it is the former, then how was “commercial artiste “ his primary profession as he falsely claimed during his playing days ? Primary profession is not a classification in the Indian tax regime. That arguement isn't correct. What you cite as unethical is a bonafide tool used to reduce the taxable income used since forever. If you were a lawyer and drew a salary from your firm, and to augment your income you taught law in an institute on a part time basis, you don't have to club all the income togther and then calculate tax. You can say that you are a 'consultant' at the educational institute and get charged a TDS of 10% instead of a higher slab for that part of the income. This is a tweak the tax law lets you utilize. What Tendulkar has used is a tweak that you are supposed to utilize. coffee_rules 1 Link to comment Share on other sites More sharing options...
rangeelaraja Posted October 5, 2021 Share Posted October 5, 2021 2 minutes ago, Trichromatic said: No, let's admit that you have clear understanding and as an expert in taxation whatever you're saying is correct. SRT was a criminal who escaped only because court allowed him to do so, although he broke the law in 2011. Now that's settled, next question given your such knowledge on taxation - what was SRT's profession in 2020 and under which profession he made endorsement money? If SRT has to go by your level of honesty, what should he mention as profession in his return this year? I am not his CA/CPA and don't know what primary profession he has chosen to file his taxes post cricket retirement and now in 2020. I do have the common sense and honesty to know that when he was representing India and playing international cricket his primary profession was a cricketer and not commercial artiste. I also have the common sense and honesty to know that sportsmen get endorsement deals because of their success in their primary profession ( playing sport) They don't play international sport because they endorse products. Link to comment Share on other sites More sharing options...
Trichromatic Posted October 5, 2021 Share Posted October 5, 2021 Just now, rangeelaraja said: I am not his CA/CPA and don't know what primary profession he has chosen to file his taxes post cricket retirement and now in 2020. I do have the common sense and honesty to know that when he was representing India and playing international cricket his primary profession was a cricketer and not commercial artiste. I also have the common sense and honesty to know that sportsmen get endorsement deals because of their success in their primary profession ( playing sport) They don't play international sport because they endorse products. Ok, what does your common sense tell you what's the profession under which SRT is earning ads money in 2020? Please answer that. It will settle the argument at least from my side. Link to comment Share on other sites More sharing options...
rangeelaraja Posted October 5, 2021 Share Posted October 5, 2021 10 minutes ago, Mariyam said: Primary profession is not a classification in the Indian tax regime. That arguement isn't correct. What you cite as unethical is a bonafide tool used to reduce the taxable income used since forever. If you were a lawyer and drew a salary from your firm, and to augment your income you taught law in an institute on a part time basis, you don't have to club all the income togther and then calculate tax. You can say that you are a 'consultant' at the educational institute and get charged a TDS of 10% instead of a higher slab for that part of the income. This is a tweak the tax law lets you utilize. What Tendulkar has used is a tweak that you are supposed to utilize. Great. Then the salaried white/blue collared middle class of 300M plus must sell a few flowers or plants every year and claim agricultural income to be their primary source of income while monthly salary as " side income ". Link to comment Share on other sites More sharing options...
rangeelaraja Posted October 5, 2021 Share Posted October 5, 2021 (edited) 11 minutes ago, Trichromatic said: Ok, what does your common sense tell you what's the profession under which SRT is earning ads money in 2020? Please answer that. It will settle the argument at least from my side. New contracts because of his reputation as a very successful former international cricketer or long term on going contracts because of his reputation as an international cricketer. Edited October 5, 2021 by rangeelaraja Link to comment Share on other sites More sharing options...
Trichromatic Posted October 5, 2021 Share Posted October 5, 2021 Just now, rangeelaraja said: New contracts because of his reputation as a very successful former international cricketer or long term on going contracts during his reputation in cricket during his playing days. I am not asking how is he gettng contracts. I am asking what's under which profession he is earning ads money. Just mentioning name of profession will help a lot. Link to comment Share on other sites More sharing options...
Real McCoy Posted October 5, 2021 Share Posted October 5, 2021 17 minutes ago, Trichromatic said: Even an IT engineer earning 50k in India is able to save taxes by multiple declarations of which some are opinionated and some are false although they aren't exactly rich like SRT. At least what SRT did was known, challenged and accepted legally. That engineer may do it but there are far less variables to work with. He certainly doesn't have "actors", "models" to work with. What SRT has done is legal but is not worthy of someone who has received Bharat Ratna and is another dent on his godlike image. If people still revere him as a god, then we are a stupid country and will remain stupid Link to comment Share on other sites More sharing options...
Mariyam Posted October 5, 2021 Share Posted October 5, 2021 2 minutes ago, rangeelaraja said: Great. Then the salaried white/blue collared middle class of 300M plus must sell a few flowers or plants every year and claim agricultural income to be their primary source of income while monthly salary as " side income ". Meh. Selling flowers/plants/nurseries are not under the ambit of agricultural produce. But if someone were to grow veggies in their garden and sell them (after obtaining the necessary paper work), there is no tax levied if they are to make a profit. The GoI encourages this. Also, the middle class uses these very tax saving methods and as a % of income, they save far more tax than a Tendulkar. Also as an absolute % of total income tax collected across the nation, the 'chindi' middle income tax saving tweaks rid the exchequer of a lot more $ than the case of a single HNI. Also, there really isn't a tax concept called as a primary income. So in the example you mention, there has to be a clear trail of what was earned by selling flowers. You can't mask your salary as $ you gain by selling flowers because your employer is already paying a tax deduction at source etc. BacktoCricaddict 1 Link to comment Share on other sites More sharing options...
rangeelaraja Posted October 5, 2021 Share Posted October 5, 2021 6 minutes ago, Trichromatic said: I am not asking how is he gettng contracts. I am asking what's under which profession he is earning ads money. Just mentioning name of profession will help a lot. I don't know his professional activities post cricket retirement . You may check with these details CA/ CPA if they are going to " help a lot ". Link to comment Share on other sites More sharing options...
sandeep Posted October 5, 2021 Share Posted October 5, 2021 Each and every single "critic" on this thread will, without any hesitation, use any and all means necessary to minimize their tax burden. All methods that are available to them. But if a celeb does it - its open season. oh he's so rich, why is his accountant doing all these gimmicks - never mind the fact that its the accountant's job to deliver minimal tax burden. Now obviously its up to each individual as to how aggressive they want their accountants to be in terms of executing this. But hypocrisy is just what it is. No point arguing about it. coffee_rules and BacktoCricaddict 2 Link to comment Share on other sites More sharing options...
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