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How much tax will Gukesh D have to pay on his World Chess Championship prize money?
short by Anmol Sharma / on Tuesday, 17 December, 2024
Grandmaster Gukesh D received prize money of around ₹11.45 crore for winning World Chess Championship 2024 in Singapore. He's likely to pay around 39%-42% of prize money as tax as per Section 194B, Rule 26 of Income Tax Act. The provision mandates deduction of tax at source on winnings from games. Gukesh would've to pay around ₹4.67 crore in tax.
read more at Times Now