Jay Shah, currently the secretary of the Board of Control for Cricket in India (BCCI), will become the chairman of the International Cricket Council (ICC) on December 1. This news has sparked interest in how his pay at the ICC might differ from what he earns now with the BCCI.
As the BCCI secretary, Jay Shah does not receive a regular salary. He holds an “honorary” position. The same goes for the president, vice president and treasurer. None of them receives a monthly salary. They are, however, paid through allowances and reimbursements, myKhel reported.
Shah gets paid around ₹84,000 ($1,000) daily for joining international cricket meetings or tours. For meetings within India, he receives ₹40,000 a day and travels in business class, the publication added.
Shah is entitled to ₹30,000 daily for work trips in India that aren’t tied to meetings. The BCCI also covers his domestic and international stays, frequently booking luxury hotel suites for him, as per the publication.
Jay Shah’s move to become ICC Chairman won’t change his compensation much. Like the BCCI, the ICC doesn’t have a set salary for high-ranking officials. Instead, they receive compensation through various allowances and benefits tied to their roles, myKhel added.
The ICC hasn’t openly shared the specifics of these payments. Officials like the chairman are compensated for attending meetings and other duties. This ensures they can concentrate on their tasks without worrying about expenses, reported the publication.
LiveMint could not independently verify the report.
Does BCCI enjoy tax exemption?
The BCCI used to enjoy tax exemption under Section 11 of the I-T Act, which allows an exemption from paying taxes on income derived from property under charitable trusts and institutions. However, it no longer enjoys this privilege.
In 2012, it lost the status of a “charitable organisation.” The Income Tax department now assesses the BCCI’s income under “Business Income”. The BCCI continues to enjoy its position as the richest cricket board in the world.