In a significant victory for India’s youngest World Chess Champion, D. Gukesh, the Finance Ministry has agreed to eliminate the hefty tax on his prize money, following a request made by The Philox.
This decision represents a remarkable show of support for a young talent who has brought pride to the entire nation. We at The Philox are thrilled to share this news with our readers and chess fans across India.
The Finance Ministry has reached out to us to confirm that they took our previous appeal into consideration, which urged them to exempt Gukesh’s hard-earned winnings from taxation.
They also mentioned that an official confirmation will be sent to us via email soon, and we will share it as soon as we receive it. For context, Gukesh won approximately ₹11.34 crore by defeating China’s reigning champion, Ding Liren, in a historic World Chess Championship final.
His victory was hard-won through years of relentless effort and dedication. However, the joy of his accomplishment was marred by the looming tax burden, estimated at around ₹4.67 crore, including surcharges.
This outcome is not merely about finances; it symbolizes respect, recognition, and encouragement for young achievers like Gukesh. A Small Effort, A Big Change The appeal made by The Philox on Gukesh’s behalf stemmed purely from patriotism, admiration for the game of chess, and respect for the young champion who made history.
We had no ties to Gukesh or his winnings; like many Indians, we regarded his victory as a moment that extended beyond sports—an achievement that rekindled pride in a game that has its roots in our country.
We felt that Gukesh deserved more than mere applause; he rightfully earned the chance to keep his full reward, which was the result of his extraordinary talent and perseverance.
Imposing a heavy tax on a young champion for such a remarkable achievement seemed unjust.
them. We were elated when the Finance Ministry responded positively to our request. In a brief yet significant call, they assured us that they had taken our plea seriously and opted to waive the tax on Gukesh’s prize money.
They recognized that Gukesh’s achievement was a source of national pride and emphasized the importance of supporting young talent to inspire future generations.
