There was a prize money of 1.35 million USD for the winner of the tournament. In addition to that, the winner of each round got 200,000 USD extra. Gukesh Dommaraju, who became the youngest person to win the World Chess Championship won two rounds before coming to the final and then, won the final as well. In total, he won three games and therefore, he received three winning amounts of 200,000 USD each. In total, he won 600,000 USD from the classical rounds in addition to winning the prize money.
So in total, he won 1.95 million USD, which comes to approximately 16.54 crore rupees in Indian currency. However, this is subject to taxes. He would be paying a 30% tax on his prize money and another 25% surcharge on the income tax. On top of that, he has to pay a 4% cess tax too.
So he would be paying 4.96 crores in income tax, another 1.24 crores for surcharge and another 24.8 lakhs for health and education cess. So in total Gukesh would be paying Rs 6.45 crore in taxes under the new tax regime. Ultimately, from the 16.54 crore rupees prize money, he would take home 10.09 crore rupees. Although Gukesh won the championship, the real winner is the Government which takes 6 crore and 45 lakh rupees from Gukesh’s victory!
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