Home > News >

Kings XI Punjab co-owner Preity Zinta gets service tax notice for KPH Dream Cricket

Kings XI Punjab co-owner Preity Zinta gets service tax notice for KPH Dream

Preity Zinta co-owns the Indian Premier League franchise Kings XI Punjab © Getty Images

Chandigarh: Jul 18, 2013

The Central Excise Department on Thursday, said it has slapped a service tax of Rs 6 crorer on Preity Zinta co-owned KPH Dream Cricket, who are part owners of Indian Premier League (IPL) franchise Kings XI Punjab.

“We have served a notice on KPH Dream Cricket, seeking service tax payment of Rs 6 crore,” an official of Chandigarh zone of Central Excise Department informed here today.

Zinta co-owned KPH Dream Cricket has been asked to pay service tax on the services categorized under Business Support Services and Manpower supply, official further said.

Official further said that the tax demand was raised pertaining to fourth edition of IPL.

Notably, KPH Dream Cricket had reported that its net loss had come down by 95 per cent to Rs 1.52 crore for the financial year 2011-12 in comparison to loss of Rs 35.26 crore for 2010-11, as per financial documents including profit and loss account filed with Registrars of Companies here.

KPH Dream had reported total revenue of Rs 90.16 crore in 2011-12, up by over 80 per cent from the revenue clocked in corresponding period, as per company’s financial statements.

According to the shareholding pattern in the company, actress Preity Zinta and industrialist Ness Wadia have 23 per cent stake each while rest is owned by another industrialist Mohit Burman, Karan Paul Chairman of Apeejay-Surrendra Group among others.

South Africa in Zimbabwe, 2014

Aug 21, 2014 (13:00 IST)   at Bulawayo

Bangladesh Tour of West Indies, 2014

Aug 22, 2014 (18:30 IST)   at St George's, Grenada

Pakistan tour of Sri Lanka, 2014

Aug 23, 2014 (10:00 IST)   at Hambantota

India tour of England 2014

Aug 25, 2014 (15:00 IST)   at Bristol

Bangladesh Tour of West Indies, 2014

Aug 25, 2014 (00:00 IST)   at Basseterre, St Kitts

More

Bangladesh Tour of West Indies, 2014

Aug 20, 2014  at St George's, Grenada

West Indies won by 3 wkts

South Africa in Zimbabwe, 2014

Aug 19, 2014  at Bulawayo

South Africa won by 61 runs

South Africa in Zimbabwe, 2014

Aug 17, 2014  at Bulawayo

South Africa won by 93 runs

India tour of England 2014

Aug 15, 2014  at London

England won by an innings and 244 runs

Pakistan tour of Sri Lanka, 2014

Aug 14, 2014  at Colombo

Sri Lanka won by 105 runs

Photos

ALS Ice Bucket Challenge performed by cricketers

Videos

Hughes explains technique behind cut shot

India still in a position to succeed against England in ODIs

13 things you may not know about Ravi Shastri

Duncan Fletcher speaks out; explains why Team India failed in the Test series against England!

Science of slip fielding: What might be wrong with Team India’s slip cordon

England England vs India England vs India 2014 India India tour of England 2014 India vs England India vs England 2014 Pakistan Pakistan tour of Sri Lanka 2014 Pakistan vs Sri Lanka Pakistan vs Sri Lanka 2014 Sri Lanka Sri Lanka vs Pakistan Sri Lanka vs Pakistan 2014 Zimbabwe

Zimbabwe surrender meekly against mighty South Africa; set target of 166

Michael Vaughan accepts Stuart Broad’s ‘Ice Bucket Challenge’; becomes latest cricketer to join the bandwagon

Live Scorecard: India Women vs England Women 1st ODI at Scarborough

Live Cricket Score: India Women vs England Women 1st ODI match at Scarborough

Watch Free Live Streaming Online: India Women vs England Women 1st ODI at Scarborough

Lalit Modi nominates N Srinivasan for ALS Ice Bucket Challenge!

Yasir Hameed: I have certainly not fulfilled the potential I had

India still in a position to succeed against England in ODIs

Alex Hales’ inclusion a positive move by England for ODI series against India

13 things you may not know about Ravi Shastri

Fan of the Day

Niharika Shah

Niharika Shah

659 Posts | 6 Fans

India tour of England 2014: Sunil Gavaskar says Indian batsmen did not learn anything

Sushma Swaraj: India committed to boosting ties with Arab world

Schizophrenia – manage it the Yoga way

Why is Sonakshi Sinha upset with makers of Rajinikanth’s Lingaa?

Soon smartphones will adjust displays for better visibility

Mahindra Reva launches e20 premium variant priced Rs 5.72 lakh

Beintehaa: After Kamya Punjabi and Neil Motwani, Priya Shinde to enter the show!

Latest Ebola News: Ebola fear cancels sports meet in Kenya

Opera Mini to be the default browser for Microsoft’s Asha and feature phones

Also on cricketcountry.com

Play Fantasy Cricket & Win

Cash Daily! Click here