India clinched the four-match series 2-1 in Sydney on Monday, sparking national celebrations.
The BCCI congratulated the team and announced a bonus of $21,400 per match for each player while the reserves will get $10,700 per match.
That means that Kohli and others who took part in all four Tests will get more than $85,000, doubling their match fees.
Coach Ravi Shastri and his assistants will get $35,650 each.
Meanwhile, Kohli and his team adorned the front pages of the leading local newspapers as India celebrated the end of a 71-year wait for a first Test series victory in Australia.
The Times of India saluted the “Wizards of Oz” on its front page and said on its sports page: “Fittingly, the historic moment came in Sydney where Virat Kohli took over as Indian skipper three years ago.” Writing in the newspaper, VVS Laxman, who also enjoyed a great deal of success against Australia in his playing days, said man-of-the-series Cheteshwar Pujara was the difference between the two sides.
“In Pujara’s ability to make a good thing count and tire out the opposition bowling is a massive lesson for youngsters,” he wrote.
In the Hindustan Times, former Australia captain Ian Chappell predicted India would “apply a stranglehold to the number one ranking”.
While celebrating the “Sweet Taste of History”, the daily also pointed out that India had yet to win a test series in South Africa and said it was “the next frontier”.