CHENNAI: Mayiladuthurai MP R Sudha has sought tax exemption for the prize money that world chess champion D Gukesh won at the recent World Chess Championship in Singapore.
Sudha wrote a letter to Prime Minister Narendra Modi and Union finance minister Nirmala Sitharaman demanding tax exemption. In the letter, Sudha said, “Gukesh became the youngest world chess champion in history. The victory brought him prize money of about Rs 11.45 crore from the tournament, but his tax liability is about Rs 4.8 crore.”
Sudha stated that prize money is classified as “income from other sources” and does not qualify for specific deductions.
Citing the tax exemption given to cricketers Sachin Tendulkar and Ravi Shastri during the Congress regime, Sudha said such exemptions should be given to Gukesh as well, as it would encourage him and youngsters like him.
She demanded that the Union govt award a cash prize — similar to the Rs 5 crore given by the Tamil Nadu govt — and a national award for Gukesh.
She demanded that the Lok Sabha adopt a resolution greeting the teenager for becoming the youngest world chess champion at the age of 18.
