“…aur fir hum Gold jeetega, aur humara Jhanda lehrayega”

• we couldn’t have found a better time to recall this dialogue from a famous bollywood movie.

It’s a historic Olympic Gold for India! A proud son of the motherland, Javelin ace Neeraj Chopra, puts an end to India’s century-long thirst for Athletics Olympics Gold! A centenary celebration, in the true sense of the word.

Not to forget, this year India’s medal tally reached 7, the nation’s highest ever in any Olympics! All thanks to our star athletes.

Although their efforts are in no way measurable in monetary terms, many authorities have come up with awards as a token of appreciation for the athletes. If you were to do a back-of-the-envelope calculation, awards for Mr. Chopra would be north of Rs 14 Crores as of now. Include awards to other winners & you’d arrive at some 40 crore rupees.

But then, the question pops up… Do these players have to pay taxes on awards? If Yes, how much? Well, let’s decode.