World champion D Gukesh got a bumper prize money but Rs 4.67 crore will be deducted in the name of tax, fans trolled Nirmala Sitharaman
India’s D Gukesh created history by winning the title of World Chess Champion at the age of just 18. He achieved this feat by defeating the current champion Ding Liren. Gukesh is the second player from India to reach this position. Earlier this title was in the name of Vishwanathan Anand. While on one hand this achievement of D Gukesh is being celebrated across the country, on the other hand, a series of memes and taunts has started on social media regarding Finance Minister Nirmala Sitharaman and the Income Tax Department. The reason is the huge income tax levied on Gukesh’s prize money.
The mathematics of Gukesh’s prize money and tax
The total prize money of the 2024 World Chess Championship was $2.5 million (₹20.93 crores). Gukesh won three matches (Games 3, 11, and 14), for which he received $600,000 (₹5.04 crores). After becoming the champion, he got $750,000 (₹6.3 crores) from the remaining prize money. Overall: Gukesh won a prize money of $1.35 million (₹11.34 crores). Now according to India’s income tax slab, this amount will come under the 30% tax slab.
- Base tax: ₹3 crore
- Surcharge and cess included: ₹4.67 crore (total estimated tax).
Fans got angry
Fans trolled Nirmala Sitharaman
Users angry at the Finance Minister
Gukesh’s dream and his emotional message
After winning the title, Gukesh said: “I was waiting for this moment for the last 10 years. I got emotional because I did not expect that I would win. This was my childhood dream. I was dreaming of this moment since the age of 6-7 years. Every chess player wants to live it. I thank God that I achieved it.”
Gukesh thanked his family, coach, and fans and said that his victory will inspire the youth of India.
