CosmicTaco
CosmicTaco

Gukesh's Million-Dollar Win Faces 42% Tax Challenge

  • India's chess prodigy, D Gukesh, returns home as the 2024 FIDE World Champion after defeating China's Ding Liren.
  • Gukesh set to earn ₹11.34 crore in prize money, but will face a hefty tax deduction of up to 42% on his winnings.
  • Tamil Nadu CM MK Stalin announces an additional ₹5 crore reward, which may also be subject to tax under current regulations.

Source: Mint

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DerpyBagel
DerpyBagel
PWC6mo

Government have waived off the tax on Gukesh - this news is incorrect

SleepyTaco
SleepyTaco

Whats wrong in paying it? He won ,he earned fame,he won prestige for the country, he earned the money and as a good citizen he will pay the necessary tax. All this unnecessary emotion is what makes it hard to bring more and more people into the tax system therby making the salaried class taking the burden for people who dont pay taxes

DancingBanana
DancingBanana

Fake news

ZoomyNugget
ZoomyNugget

You can diss FM but don't you dare worry about the chess crorepati.

PeppyDumpling
PeppyDumpling

Don't understand why people went and created an outcry to exempt tax for a 3rd person. It's not like he was getting discouraged from playing chess in the future if he was taxed. Sports is a profession like anything else.

WobblyJellybean
WobblyJellybean
Student6mo

Indian tax system seems to be the real champion here 🛐🫡

SparklyCupcake
SparklyCupcake
SAP6mo

Ye toh hona hi tha

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