Will Neeraj Chopra have to pay tax on prize money?
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Star Indian athlete Neeraj Chopra has received crores in prize money from different state governments and the central government since he won gold at Tokyo Olympics. The real question is if the gold-medallist will have to pay taxes on prize money. The answer to this is no. According to section 10(17A) of the IT Act, the prize money received by any medal winner in Olympic Games, Common Wealth Games and Asian Games is tax-free