After D Gukesh's win, people congratulate the Income Tax department: 'TDS-Tax deducted by Sitharaman'
As D Gukesh made history by becoming the youngest World Chess Champion on Thursday, many unexpectedly congratulated the Income Tax Department and Union Finance Minister Nirmala Sitharaman, and the reason behind it is hilarious!
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¡ªhighlighted by viral moments of him embracing his father and earlier videos where he shared his dream of becoming the youngest World Chess Champion¡ªthere's one section of people offering congratulations to the Income Tax Department!
Check out some of the hilarious reactions here:
#GukeshD will have to pay more than 42% of the 11 crore prize money as income tax#GukeshWorldChampion pic.twitter.com/HBySYrV2YB
¡ª Mridul Sharma (@msharma_1) December 13, 2024
Congrats to the Indian Tax dept for winning the World Chess Championship and earning 5 crores out of the 11 crore prize money.
¡ª Gabbar (@GabbbarSingh) December 13, 2024
Tn Govt : 5cr award for Gukesh!
¡ª Jitendra Jain (@jitendrajain) December 13, 2024
Madam : Tax to dena padega!!
?
Checkmate! pic.twitter.com/xGmJPB90a1
¡ª Pratik Thakkar (@PratikThakkarCO) December 13, 2024
Nirmala Tai pic.twitter.com/aEdNeThk1r
¡ª Godman Chikna (@Madan_Chikna) December 13, 2024
The Indian Tax Department is always a step ahead, making sure they get their share of the winnings! Even in chess, they manage to checkmate the earnings.
¡ª Sarvesh Yadav (@Savy23_09) December 13, 2024
Earned 5 crore out of 11 crore. #IncomeTax #DGukesh pic.twitter.com/H9Qbo27lLf
Please join me in congratulating the Income Tax Department ??
byu/Ok_Life_4517 inIndiaTax
How much prize money will D Gukesh take home after winning the World Chess Championship?
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¡ªGames 3, 11, and 14¡ªearning $600,000 (around Rs 5.04 crore), while Ding Liren won Games 1 and 2, earning $400,000 (approximately Rs 3.36 crore).
18th @ 18! pic.twitter.com/krXbIfewo0
¡ª Gukesh D (@DGukesh) December 13, 2024
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!"
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Srishti B Dutta brings you everything from rags-to-riches tales and inspiring student success stories to those "No way, this can't be real!" moments. Whether it's intriguing, heartwarming, or just plain quirky, she's got it covered.
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