Nirmala Sitaraman CheckMate To World Chess Title Winner - Pay 4.67 Crores Tax
On Thursday, D Gukesh, who is only eighteen, became the youngest World Chess champion in history. The indian grandmaster became only the second indian after Vishwanathan anand to accomplish the milestone when he defeated the current world champion, Diren Ling.
While the country as a whole hailed the victory of the youth, some supporters praised Nirmala Sitharaman, the finance minister, and the income tax department. The amount that the Income Tax agency would get from Gukesh's reward money after winning the title is the cause of the trolling. Here are the comments made by admirers.
How Much Will Gukesh Pay in Income Tax?
Following his World Chess championship victory, Gukesh's net worth skyrocketed to about 21 crore. Gukesh will probably be in the 30% tax bracket in India, which implies that he would pay about ₹3 crore in income tax on his winnings. According to reports, there will also be a surge fee, meaning Gukesh would have to pay almost ₹4.67 crore in income tax.
D Gukesh's prize money following his World Hess championship victory
The whole prize fund for the 2024 World Chess championship is $2.5 million. Each winner receives $200,000 (about ₹1.68 crore) per FIDE's regulations, with the two finalists sharing the remaining prize money evenly.
Following his World Chess championship victory, Gukesh's net worth skyrocketed to about 21 crore. Gukesh will probably be in the 30% tax bracket in India, which implies that he would pay about ₹3 crore in income tax on his winnings. According to reports, there will also be a surge fee, meaning Gukesh would have to pay almost ₹4.67 crore in income tax.
D Gukesh's prize money following his World Hess championship victory
The whole prize fund for the 2024 World Chess championship is $2.5 million. Each winner receives $200,000 (about ₹1.68 crore) per FIDE's regulations, with the two finalists sharing the remaining prize money evenly.