Sportspersons like Sachin Tendulkar and Mahendra Singh Dhoni will soon see a higher rate of tax deduction at source on their match fees and endorsement fee earnings. The Income Tax Department has decided to hike the tax deducted at source (TDS) rate to 10 per cent, taking the total incidence to 11.33 per cent (including 3 per cent education cess and 10 per cent surcharge), as against the existing incidence of 2.33 per cent, official sources told Business Standard.
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TDS rate for players raised to 10 per cent
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Sportspersons like Sachin Tendulkar and Mahendra Singh Dhoni will soon see a higher rate of tax deduction at source on their match fees and endorsement fee earnings. The Income Tax Department has decided to hike the tax deducted at source (TDS) rate to 10 per cent, taking the total incidence to 11.33 per cent (including 3 per cent education cess and 10 per cent surcharge), as against the existing incidence of 2.33 per cent, official sources told Business Standard.
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