Top 3 players who suffered financial losses after Union Budget announcements
Virat Kohli was the highest tax-paying cricketer in the financial year 2023-24, paying INR 66 crore.
1. Virat Kohli (2020-21 Budget Impact):
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, Virat Kohli. 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.
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