Undisclosed income: Kapil to face stiff penalty
Published: Thursday, January 11, 2001, 23:30 [IST]
New Delhi: Five Indian cricketers, including ex-skipper Kapil Dev, have huge amounts of undeclared income and could face stiff penal action, the 'Indian Express' newspaper said on Thursday.The daily, quoting income tax sources, said the players had been sent notices about two weeks ago to declare their earnings over the past 10 years.It said cricket legend Kapil Dev, whose named cropped up in a match-fixing probe, had more than Rs 25 million ($ 532,000) in undeclared earnings. Kapil was cleared in an official probe last month.Players Ajay Sharma, Ajay Jadeja and Manoj Prabhakar, who were declared guilty by federal investigators of consorting with bookies, were also found to have concealed their incomes.Jadeja had hidden earnings of Rs 23 million, Prabhakar had Rs 25 million in concealed wealth while Sharma's undeclared money was put at around Rs 7 million. Nikhil Chopra had hidden wealth to the tune of Rs 5 million."The cricketers have been given a month to submit details of their undeclared income and will be liable to pay 60 per cent of the amount in taxes," the newspaper said."However, if they fail to admit to the concealment at this late stage, they will have to cough up penalties up to 300 per cent and face prosecution ... even the sceptre of imprisonment for a period between six months to seven years."