Indian chess prodigy D Gukesh etched his name in history on Thursday by becoming the youngest-ever World Chess Champion at just 18. Gukesh defeated reigning champion Ding Liren to secure the coveted title, becoming only the second Indian, after the legendary Viswanathan Anand, to achieve this remarkable feat.
While the nation celebrated Gukesh's incredible achievement, a section of fans humorously congratulated the Income Tax Department and Finance Minister Nirmala Sitharaman. The reason for the lighthearted trolling? The substantial tax Gukesh will owe on his prize winnings.
How Much Income Tax Will Gukesh Pay?
Gukesh's total net worth surged to approximately ₹21 crore after his victory at the 2024 World Chess Championship. Falling under the 30% income tax slab in India, Gukesh is expected to pay around ₹3 crore in taxes on his winnings. However, factoring in the surcharge and other applicable taxes, his total tax liability is estimated to be ₹4.67 crore.
Prize Money Breakdown: How Much Did Gukesh Win?
The 2024 World Chess Championship featured a massive prize pool of $2.5 million (₹21 crore approximately). According to FIDE rules, players receive $200,000 (₹1.68 crore) for each individual game win, with the remainder of the prize money split equally between the finalists.
- Gukesh secured three wins (Games 3, 11, and 14), earning $600,000 (₹5.04 crore) from victories.
- Ding Liren, on the other hand, won two games (Games 1 and 12) and earned $400,000 (₹3.36 crore).
- The remaining $1.5 million (₹12.6 crore) was divided evenly, adding $750,000 (₹6.3 crore) to each finalist's total earnings.
In total, Gukesh walked away with $1.35 million (₹11.34 crore approximately), while Ding earned $1.15 million (₹9.66 crore approximately).
Gukesh's Reaction: A Dream Come True
Reflecting on his victory, an emotional Gukesh shared his long-cherished dream of winning the chess crown. He said,
“I was dreaming of this moment for the last 10 years. I’m happy I realized this dream. I got a bit emotional because I was not expecting to win. But then I got a chance to press on. I’ve been dreaming about this and living this moment since I was 6 or 7. Every chess player wants to live this moment. I’m living my dream. I’d like to thank God from Candidates till the Championship.”
Gukesh's historic triumph not only makes him a role model for budding chess players but also cements India’s dominance in the global chess arena, further building on the legacy of Viswanathan Anand.
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