The third season of Indian Premier League will make the exchequer richer by Rs 150 crore.

The government expects to collect this much tax from the cricketing event and has already mopped up Rs 110 crore in the first 15 days as tax deducted at source.

"We expect direct tax collection of Rs 150 crore. We have already mopped up over Rs 110 crore in the first fortnight," a tax official told PTI.

The official further said the tax department expects around Rs 90-100 crore from the Board of Control for Cricket in India (BCCI) and Rs 50-60 crore from the eight franchises.

Till date, the department has collected around Rs 50 crore of tax on payments made by the franchises, while over 60 crore has been received from incomes received by the BCCI.