Sub-Section(2) of section 139AA of the Indian Income tax act 1961, provided that it is mandatory for every individual who has been allotted a Permanent Account Number (PAN) on 1st July 2017 to link his/her Aadhaar number with PAN by 30 June 2023, failing PAN become inoperative from 1 July 2023. PAN-Aadhaar link fee PAN-Aadhaar link fee till March 31st, 2023 is Zero and from 1 April to 30 June 2023 charge will be 500 , and after 30 June 2023 fee amount will be 1000 . PAN-Aadhaar link Penalty There is a Penalty of 500 rupees from 1 April to 30 June 2023 and a fine of 1000 rupees from 1 July 2023 for linking PAN-Aadhaar. From 1 July 2023, PAN becomes inoperative and can be activated after paying the penalty of 1000. What will happen if PAN-Aadhaar not linked According to Finance Ministry (1) PAN becomes inoperative (2) TDS/TCS shall be deducted at a higher rate (3) Individuals will not able to file ITR (4) Pending refunds will not be issued (5) Bank transactions will be diffic
Ashneer Grover launched his first app CrickPe from his Third Unicorn just before the beginning of IPL and he said CrickPe will be profitable at end of 2023 IPL session.
What is CrickPe
CrickPe is a fantasy cricket gaming app like Dream 11 from Ashneer Grover’s 3rd Unicorn from where people can earn money.
How CrickPe works
The CrickPe app will take 50 rupees from a user for joining a contest. Users can create a team from 4 players to a maximum of 7 players, 80% of the money goes to users who win and 10% money goes to cricketers and organizers and 10% goes to CrickPe as profit.
Owners of CrickPe
CrickPe is owned by a company “Third Unicorn Private Limited” which is co-founded by Ashneer Grover, Madhuri Jain Grover wife of Ashneer Grover, and Aseem Ghavri a graduate of Punjab University.
The corporate office of CrickPe is 489/55 Malviya Nagar, Maharishi Dayanand Marg, New Delhi.
CrickPe Bussiness Model
According to Ashneer Grover CrickPe will focus only on cricket where India is playing because the Indian fantasy sports market is 36000 cr in Fy 21 and projected to be 1,65000 cr in Fy 25 and revenue-wise cricket has an 80% share in the fantasy gaming market.
Crickpe Revenue model
Crickpe will get revenue 50 rupees from every user who join a new contest.
CrickPe Funding
CrickPe's parent company ‘Third Unicorn Private Limited has raised INR 40 crore (USD 5 million) in exchange for 13-14% equity at a pre-money valuation of 250 crores from the Haldiram family office, Rapper Badshah, Indian Cricketer Shikar Dhavan investing company Da-one and Mumbai based content creator Super Fat-Studio.
CrickPe Marketing Strategy
CrickPe will campaign on social media only because on social media geography and audience age & gender can be controlled. CrickPe will not expend more on marketing.
CrickPe Brand Ambesdor
According to Ashneer Grover, no cricketer will be hired for endorsement for CrickPe because he has his fan following to endorse CrickPe
Dream 11 vs CrickPe
Dream 11 runs 5 different games on its platform Cricket, Football, Pro-Kabbadi, Hockey, Volleyball, and Handball where as CrickPe is made only for cricket and the focus will be only those games where India plays.
How CrickPe Differ from another fantasy app
CrickPe differs from other cricket fantasy app example CrickPe has a 100 cr money pool in which 80cr will be given to a user who wins and 10 crores will be kept by CrickPe and from the remaining 10 crores 1.5% given to BCCI another 1.5% of 10 crores given to two participating teams and remaining will be distributed to cricketers based on their performance.
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