Tax Guru: While talking to Laxman Roy in CNBC-Awaaz channel’s show ‘Tax Guru’, tax expert Sharad Kohli said that 15-year-old cricketer Vaibhav Suryavanshi, who earns crores of rupees, will also have to pay income tax as per rules. Since Vaibhav has earned this income on the basis of his skills and abilities, the rule of ‘clubbing of income’ will not apply to it and his separate return will be filed on Vaibhav’s PAN card only. However, since he is under 18 years of age, he cannot sign the return himself, so his parent or guardian will have to sign it. According to estimates, tax liability can be up to Rs 2 crore on an income of Rs 7 crore. One catch in this is that if this earning is invested in a bank or other investment, then the interest received from it can be added to the income of the parents under the clubbing rule.
