Chess champion Gukesh's tax is more than Dhoni's salary..!?

Indian player Gukesh won the World Chess championship title by defeating reigning champion Ding Liren in the tournament held in Singapore. With this, he also created a record of becoming the youngest player to win the World Chess championship title at the age of 18. The hero of the feat, Gukesh, is receiving praise from all over the world. The tamil Nadu government has also announced that a cash prize of Rs. 5 crore will be given to Gukesh and honor him. The teen chess prodigy, who received a hero’s welcome at the chennai International airport on monday following his emotional triumph in the World championship in Singapore, will have to pay 39 to 42 percent of his prize money as tax, as per Section 194B, Rule 26 of the Income Tax Act.
In this situation, the income earned by Gukesh from the championship is estimated at Rs. 11.34 crore. The tax he has to pay on this amount is Rs. 4.67 crore. That is, it is more than Dhoni's salary in the current IPL season. Dhoni's salary is Rs. 4. Crore. But Gukesh's tax is higher than that. Generally, those earning more than Rs. 5 crores are subject to a 37 percent surcharge, and 4 percent health and education tax, for a total of 42 percent.
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Sowmiya Sriram

17/12/2024 11:26 AM