The crown of a world champion comes with a price. D Gukesh’s triumph at the World Chess Championship 2024 recently in Singapore brings a heavy tax burden on the youngster as the 18th-year-old will approximately pay a tax of ₹4.67 crore – which is more than his idol MS Dhoni’s current Indian Premier League (IPL) salary at the Chennai Super Kings (CSK). A five-time IPL-winning captain with Dhoni was retained for ₹4 crore by CSK for IPL 2025.
Challenging China’s reigning champion Ding Liren, Gukesh won 7.5-6.5 to become the youngest ever world champion, overhauling the long-standing mark of Russia’s Gary Kasparov. Gukesh’s triumph gained worldwide attention as the Tamil Nadu native got a global recognition – but with an hefty tax bill.
Winning each game in World Chess Championship was worth $200000 (approx ₹1.69 crore). While Gukesh won three and took home $600000 (approx ₹5.07 crore), Liren got rich by $400,000 (approx ₹3.38 crore) after winning two games.
In addition to that, the prize money of $1.5 million ( ₹12.7 crore approx) will be equally divided among the two. In total, Gukesh will be rich by estimated ₹11.34 crore while Liren’s is approximately ₹9.75 crore.
According to Indian tax system, any income above ₹15 lakh are taxed at 30%. People, earning more than ₹5 crore will have to play an additional surcharge of up to 37%, in combination to 4% health and education levy which leads to an effective tax rates of over 42%.
Gukesh returns to India
Meanwhile, on Monday, Gukesh arrived home to a rousing reception at the airport in Chennai. A large number of fans thronged the airport to receive the young chess champion, even as the state government officials, led by Additional Chief Secretary Dr Atulya Misra, welcomed Gukesh. The 18-year-old champion expressed joy over his achievement and thanked for the all-round support.
Tamil Nadu Chief Minister MK Stalin has already announced a cash reward of ₹5 crore to Gukesh.
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