New Delhi: D Gukesh made history on Thursday by becoming the youngest-ever World Chess Champion at just 18, defeating China’s reigning titleholder, Ding Liren. While the nation celebrates his victory—highlighted by viral moments of him embracing his father and earlier videos where he shared his dream of becoming the youngest World Chess Champion—there’s one section of people offering congratulations to the Income Tax Department!
After winning the World Chess Championship in Singapore, D. Gukesh is set to earn over Rs 11 crore. The total prize pool for the 2024 championship was $2.5 million (around Rs 20.75 crore).
Following FIDE’s rules, players receive $200,000 (approximately Rs 1.68 crore) for each win, with the remaining amount split between the two finalists.
Gukesh won three games—Games 3, 11, and 14—earning $600,000 (around Rs 5.04 crore), while Ding Liren won Games 1 and 2, earning $400,000 (approximately Rs 3.36 crore).
The remaining $1.5 million was divided equally between them.
In total, Gukesh earned $1.35 million (about Rs 11.34 crore), while Liren took home $1.15 million (around Rs 9.66 crore).
Before the tournament, Gukesh’s net worth was Rs 8.26 crore, and now, with his championship victory, it has nearly tripled to Rs 21 crore.
However, in India, the highest tax rate for top earners can go up to 30%.
Assuming this rate applies, Gukesh will be taxed around $405,000, which means the Income Tax Department is set to receive over Rs 3 crore.
Some are suggesting that with the surcharge included, Gukesh’s total tax liability could exceed Rs 4.67 crore.
And that’s why many are now congratulating the Income Tax Department.
As one person rightly put it, “That’s called TDS: Tax Deducted by Sitharaman!”
