Top 3 players who suffered financial losses after Union Budget announcements

On February 1, the Indian government announced the Union Budget for 2025-26, mentioning significant tax reforms that will benefit middle-class taxpayers. Finance Minister Nirmala Sitharaman introduced a major relief by eliminating income tax for individuals earning up to INR 12 lakh annually. However, while this is a welcome move for salaried professionals, the changes may not provide any benefits to high-income individuals, including top cricketers.

For cricketers, earnings from IPL contracts, match fees, and lucrative brand endorsements push them into the highest tax brackets. Despite the budget providing relief to lower-income groups, no exemptions were introduced for professionals who make their earnings through contracts and sponsorships. This means that players sold in the IPL 2025 auction, some fetching multi-crore deals, will continue to bear a hefty tax burden.

Additionally, the newly proposed income tax bill is aimed to simplify tax laws, but it does not provide any relaxation for high-earning individuals. With no changes to the existing surcharge rates, cricketers and other top earners will continue paying a significant portion of their income in taxes.

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Here are the three cricketers who suffered financial losses after Union Budget announcements:

3. Sachin Tendulkar (2012-13 Budget Impact):

The 2012-13 Union Budget introduced higher income tax slabs and wealth tax policies, significantly impacting legendary batter, Sachin Tendulkar’s post-retirement earnings. Tendulkar was India’s wealthiest cricketer at the time with USD 160,000,000 net worth. The new tax rate for individuals earning over INR 1 crore directly affected his substantial income from brand endorsements and business investments.

Additionally, the introduction of wealth tax on high-value assets impacted his real estate and luxury property holdings. Despite these financial challenges, Tendulkar had previously secured tax benefits. In 2011, an Income Tax Tribunal allowed him to claim deductions on his earnings from advertisements, recognizing him as an "actor" under Section 80RR of the I-T Act, 1961. However, the 2012-13 budget’s stricter tax policies reduced his overall profits from multiple ventures.

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