Top 3 players who faced 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.
Also Read: <a href="https://www.crictracker.com/cricket-news/ajay-jadeja-overtakes-virat-kohli-to-become-indias-richest-cricketer-in-2024-5902" target="_blank" rel="noopener">Ajay Jadeja overtakes Virat Kohli to become India’s richest cricketer in 2024</a>
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<h2>Here are the three cricketers who suffered financial losses after Union Budget announcements:</h2>
<h3>3. Sachin Tendulkar (2012-13 Budget Impact):</h3>
<figure class="image" style="max-width: 100%; margin: 0;"><amp-img src="https://media.crictracker.com/media/attachments/1726329691878_Sachin-Tendulkar.jpeg" alt="Sachin Tendulkar" width="640" height="400" layout="responsive" style="max-width: 100%; margin: 0;"></amp-img>
<figcaption>Sachin Tendulkar. (Photo Source: Twitter)</figcaption>
</figure>
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.
Also Read: <a href="https://www.crictracker.com/cricket-news/sachin-tendulkar-gets-bestowed-with-lifetime-achievement-award-by-bcci" target="_blank" rel="noopener">Sachin Tendulkar gets bestowed with Lifetime Achievement Award by BCCI </a>
<h3>2. MS Dhoni (2016-17 Budget Impact):</h3>
<figure class="image" style="max-width: 100%; margin: 0;"><amp-img src="https://media.crictracker.com/media/attachments/1725543228587_MS-Dhoni.jpeg" alt="MS Dhoni" width="640" height="400" layout="responsive" style="max-width: 100%; margin: 0;"></amp-img>
<figcaption>MS Dhoni. (Photo Source: X(Twitter)</figcaption>
</figure>
The 2016-17 Budget, with the introduction of Goods and Services Tax (GST), significantly affected former World Cup-winning skipper MS Dhoni’s business ventures. Increased luxury tax rates and higher GST (18-28%) on premium sports academies led to financial losses in his real estate and fitness investments. These tax changes raised operational costs and reduced returns on investments, impacting his earnings as a businessman.
Despite financial setbacks, Dhoni remained among India’s highest taxpayers, paying INR 30 crore as advance tax in 2020-21. Previously, he paid INR 12.17 crore in 2017-18 and INR 10.93 crore in 2016-17. In 2024, Dhoni filed a criminal case against former business partners Mihir Diwakar and Soumya Vishwas, alleging they duped him of over INR 15 crore through setting up of unauthorized cricket academies.&nbsp;
Also Read - <a href="https://www.crictracker.com/social-tracker-cricket/watch-star-sports-unveils-champions-trophy-2025-campaign-featuring-ice-cool-ms-dhoni" target="_blank" rel="noopener">Watch: Star Sports unveils Champions Trophy 2025 campaign featuring 'ice cool' MS Dhoni</a>
<h3>1. Virat Kohli (2020-21 Budget Impact):</h3>
<figure class="image" style="max-width: 100%; margin: 0;"><amp-img src="https://media.crictracker.com/media/attachments/1721998002394_Virat-Kohli.jpeg" alt="Virat Kohli" width="640" height="400" layout="responsive" style="max-width: 100%; margin: 0;"></amp-img>
<figcaption>Virat Kohli. (Source - Twitter/X)</figcaption>
</figure>
The 2020-21 Union Budget introduced a higher surcharge on individuals earning over INR 2 crore annually, increasing the tax burden on top earners like star Indian batter, <a href="https://www.crictracker.com/social-tracker-cricket/watch-virat-kohlis-classy-act-signs-ball-for-himanshu-sangwan-after-ranji-trophy-match" target="_blank" rel="noopener">Virat Kohli</a>. Earnings above INR 5 crore are taxed at 42.7%, being the highest marginal tax rate in India. Kohli’s net income from match fees, IPL contracts, and endorsements took a significant hit.
The financial strain worsened as the COVID-19 pandemic affected cricket, with tournaments postponed or canceled, affecting the BCCI’s revenue. Indian Cricketers Association (ICA) president Ashok Malhotra had mentioned the potential for pay cuts. Despite past setbacks, Kohli remains India’s highest taxpayer among athletes, paying INR 66 crore in FY24. His net worth is strengthened by endorsements with MRF, Puma, and HSBC India. However, his fashion brand WROGN saw a 29% revenue dip in 2024.

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.
Also Read: <a href="https://www.crictracker.com/cricket-news/ajay-jadeja-overtakes-virat-kohli-to-become-indias-richest-cricketer-in-2024-5902" target="_blank" rel="noopener">Ajay Jadeja overtakes Virat Kohli to become India’s richest cricketer in 2024</a>
<hr>
<h2>Here are the three cricketers who suffered financial losses after Union Budget announcements:</h2>
<h3>3. Sachin Tendulkar (2012-13 Budget Impact):</h3>
<figure class="image"><img src="https://media.crictracker.com/media/attachments/1726329691878_Sachin-Tendulkar.jpeg" alt="Sachin Tendulkar" loading="lazy">
<figcaption>Sachin Tendulkar. (Photo Source: Twitter)</figcaption>
</figure>
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.
Also Read: <a href="https://www.crictracker.com/cricket-news/sachin-tendulkar-gets-bestowed-with-lifetime-achievement-award-by-bcci" target="_blank" rel="noopener">Sachin Tendulkar gets bestowed with Lifetime Achievement Award by BCCI </a>
<h3>2. MS Dhoni (2016-17 Budget Impact):</h3>
<figure class="image"><img src="https://media.crictracker.com/media/attachments/1725543228587_MS-Dhoni.jpeg" alt="MS Dhoni" loading="lazy">
<figcaption>MS Dhoni. (Photo Source: X(Twitter)</figcaption>
</figure>
The 2016-17 Budget, with the introduction of Goods and Services Tax (GST), significantly affected former World Cup-winning skipper MS Dhoni’s business ventures. Increased luxury tax rates and higher GST (18-28%) on premium sports academies led to financial losses in his real estate and fitness investments. These tax changes raised operational costs and reduced returns on investments, impacting his earnings as a businessman.
Despite financial setbacks, Dhoni remained among India’s highest taxpayers, paying INR 30 crore as advance tax in 2020-21. Previously, he paid INR 12.17 crore in 2017-18 and INR 10.93 crore in 2016-17. In 2024, Dhoni filed a criminal case against former business partners Mihir Diwakar and Soumya Vishwas, alleging they duped him of over INR 15 crore through setting up of unauthorized cricket academies.&nbsp;
Also Read - <a href="https://www.crictracker.com/social-tracker-cricket/watch-star-sports-unveils-champions-trophy-2025-campaign-featuring-ice-cool-ms-dhoni" target="_blank" rel="noopener">Watch: Star Sports unveils Champions Trophy 2025 campaign featuring 'ice cool' MS Dhoni</a>
<h3>1. Virat Kohli (2020-21 Budget Impact):</h3>
<figure class="image"><img src="https://media.crictracker.com/media/attachments/1721998002394_Virat-Kohli.jpeg" alt="Virat Kohli" loading="lazy">
<figcaption>Virat Kohli. (Source - Twitter/X)</figcaption>
</figure>
The 2020-21 Union Budget introduced a higher surcharge on individuals earning over INR 2 crore annually, increasing the tax burden on top earners like star Indian batter, <a href="https://www.crictracker.com/social-tracker-cricket/watch-virat-kohlis-classy-act-signs-ball-for-himanshu-sangwan-after-ranji-trophy-match" target="_blank" rel="noopener">Virat Kohli</a>. Earnings above INR 5 crore are taxed at 42.7%, being the highest marginal tax rate in India. Kohli’s net income from match fees, IPL contracts, and endorsements took a significant hit.
The financial strain worsened as the COVID-19 pandemic affected cricket, with tournaments postponed or canceled, affecting the BCCI’s revenue. Indian Cricketers Association (ICA) president Ashok Malhotra had mentioned the potential for pay cuts. Despite past setbacks, Kohli remains India’s highest taxpayer among athletes, paying INR 66 crore in FY24. His net worth is strengthened by endorsements with MRF, Puma, and HSBC India. However, his fashion brand WROGN saw a 29% revenue dip in 2024.

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

Top 3 players who faced financial losses after Union Budget

Virat Kohli was the highest tax-paying cricketer in the financial year 2023-24, paying INR 66 crore.

Top 3 players who suffered financial losses after Union Budget announcements

Check how Union Budget announcements led to financial losses for top cricketers like Virat Kohli, MS Dhoni, and Sachin Tendulkar, including tax changes, luxury taxes, and investment impacts.