D Gukesh To Pay ₹4.67 Crore In Taxes On ₹11 Crore Prize Money After Historic Win; Fans Troll Nirmala Sitharaman
D Gukesh To Pay ₹4.67 Crore In Taxes On ₹11 Crore Prize Money After Historic Win; Fans Troll Nirmala Sitharaman
Youngest World Chess Champion faces hefty tax bill, with fans trolling the finance ministry amid celebrations.
Indian chess prodigy D Gukesh made history by becoming the youngest-ever World Chess Champion at just 18 years of age. The grandmaster defeated reigning champion Ding Liren to claim the prestigious title, becoming only the second Indian after Viswanathan Anand to achieve this incredible feat.
A Historic Win With A Heavy Tax Burden
While the nation erupted in celebration, an unexpected conversation emerged online, with a section of fans turning their focus towards Finance Minister Nirmala Sitharaman and the Income Tax Department. The trolling began after it was revealed that a significant portion of Gukesh’s prize money, approximately ₹4.67 crore would go towards taxes.
Fans humorously congratulated the Income Tax Department for their “windfall,” pointing out that Gukesh’s tax liability will exceed MS Dhoni’s IPL 2025 salary of ₹4 crore.
Breakdown Of Gukesh’s Earnings And Taxes
The 2024 World Chess Championship boasted a total prize pool of $2.5 million (₹21 crore approx), and as per FIDE’s rules:
• Gukesh earned $600,000 (₹5.04 crore) for winning three games (Games 3, 11, and 14).
• The remaining prize pool of $1.5 million was split between the finalists, with Gukesh receiving an additional $750,000 (₹6.3 crore).
• In total, Gukesh’s earnings amounted to $1.35 million (₹11.34 crore).
Indian Tax Laws At Play
Under Indian tax regulations:
• Individuals earning over ₹5 crore are subject to a 30% tax slab.
• An additional 37% surcharge applies to income exceeding ₹5 crore.
• A further 4% health and education levy is added.
This places Gukesh’s total tax liability at approximately ₹4.67 crore, or 41.4% of his earnings.
From Celebration To Humor: Social Media Reacts
While Gukesh’s historic triumph brought joy to millions, social media saw a mix of congratulations and witty trolling aimed at the tax authorities. Many users jokingly congratulated Nirmala Sitharaman and the Income Tax Department, quipping that they “won more than anyone else” from Gukesh’s achievement.
• One user wrote: “While Gukesh brought glory to India, the Finance Ministry must be celebrating its own ‘checkmate’ victory!”
• Another added: “Congratulations to the Income Tax Department for winning ₹4.67 crore. Gukesh just made their day!”
Gukesh’s Rise To Stardom
This victory not only cements Gukesh’s status as a global chess sensation but also propels his net worth to nearly ₹21 crore. The teenage grandmaster has become a beacon of inspiration for aspiring chess players and continues to receive praise from all corners of the nation.
As celebrations continue, the chess prodigy remains focused on his next milestones, undeterred by the financial realities of his success. For Gukesh, this is just the beginning of what promises to be an illustrious career in chess.
