Gukesh made a historical landmark, becoming the second Indian to win the world chess championship after defeating the reigning world champion, Ding Loren.
On Thursday, D Gukesh achieved a milestone accomplishment by winning the world chess championship in Singapore, defeating the reigning title holder Ding Lorren. The newly crowned grandmaster broke the world record, becoming the youngest and second Indian after Viswanathan Anand to achieve the title.
As the entire nation celebrates the victory of Gukesh, meanwhile the fans and netizens are divided over the hefty tax being levied on the chess champion. Congratulating the Income Tax Department and Finance Minister Nirmala SitaRaman for the money they will receive in the form of taxes.
How much prize money did Gukesh win?
Gukesh's net worth has reportedly jumped to ₹21 crore after winning the 2024 World Chess Championship. According to the FIDE’s rule, the players are rewarded $200,000 (₹1.68cr) with each match they win, while the remaining amount in the Championship is set to be split evenly between the finalists. The total prize pool for the Championship was $2.5 million (around ₹20.75 crore).
Gukesh triumphed in 3 matches in total (Game 3, 11, and 14), which means he won $600,000 (₹5.04 cr approximately), and Ding Loren won two matches (Game 1 and 12) for $400,000 (approx. ₹3.036 cr). The remaining $1.2 million was divided evenly between Gukesh and Ding Loren.
In aggregate, Gukesh has won $1.35 million (₹11.34 crores approximately).
How much income tax will Gukesh pay?
Gukesh's net worth has tripled and jumped to 21 crore after winning the chess championship. According to the report, Gukesh is most likely to pay 30% of the winning amount to the Income Tax department, i.e., 3 crores. However, there has been speculation of the surge charges as well as 4.67 crores as income tax, in total.
In the interim, the netizens are opposed to such a heavy amount of tax being levied on Gukesh, given he has represented the country on the world stage.
Gukesh on winning the world chess championship
Gukesh is the only child of his parents. While his father accompanied him to the matches, his mother was left with the responsibility of being the sole breadwinner of the household; hinting at the adverse finances. After winning the championship, Gukesh not only got emotional but was elated. He stated that he had been dreaming of this moment for the past 10 years, ever since he was 6 or 7 years old, and he thanked the god.
With inputs from agencies
Image Source: Multiple agencies
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