Producer and host of "Comedy Nights With Kapil", he received the award from actor-filmmaker Amol Palekar at the event Friday.
"Receiving Indian of the Year award from respected Amol palekar...Thank you god and my fans," Kapil tweeted Saturday.
He came into the limelight after winning the third season of "The Great Indian Laughter Challenge" and since then, there has been no looking back for him.
He also featured in Forbes India's 'celebrity 100' list.