Kuldeep, almost certain to be part of India's squad for the T20 World Cup in June, missed Delhi's previous three matches
Gambhir, was found guilty after he was charged for elbowing Australian all rounder Shane Watson while taking a run on the first day of the test on Wednesday, an ICC release said.
Both players were summoned for a hearing by match referee Chris Broad on Thursday, where Gambhir pleaded guilty and Watson was fined 10 percent of his match fee.
Gambhir had faced a penalty ranging between a fine of 50 percent to his full match fee and/or a maximum ban of one test or two one-dayers, with a right to appeal within 24 hours.
He would miss the fourth and final test starting in Nagpur on Nov. 6, the ICC release added.
The batsman top-scored with 206 for his second consecutive hundred following his 104 in the second test in Mohali.
"The decision to find Gambhir guilty of a (rule C1) level 2 offence is indicative of the fact that any degree of physical contact is unacceptable," Broad said in an ICC release.
He escaped a harsher ban of a minimum of two tests for a second offence within a year, having been fined 65 percent of his match fee for clashing with Shahid Afridi in a one-dayer against Pakistan last November.
Broad said the lightness of his contact with Watson and the provocation of the Australian player helped Gambhir's cause.
He is the second Indian player to be penalised in the series which has witnessed a series of verbal exchanges between players from both teams.
Paceman Zaheer Khan was fined 80 percent of his match fee in Mohali after his verbal send-off to Australian opener Matthew Hayden was walking back to the pavilion after his dismissal.
Kuldeep, almost certain to be part of India's squad for the T20 World Cup in June, missed Delhi's previous three matches
The Delhi Capitals all-rounder's injury is major headache for Australia ahead of the T20 World Cup in June
India's Yuvraj Singh had done so against England's Stuart Broad in 2007 and West Indies' Kieron Pollard hit Sri Lanka's Akila Dananjaya in 2021
Rajasthan Royals lost the match on the last ball against Gujarat Titans
While Rajasthan cling on to their table-topping position above Kolkata Knight Riders, the Titans clawed their way back to a dramatic victory in the final five overs
Reddy secured the 'Player of the Match' award as he helped SRH secure a win over PBKS by two runs
Rajasthan Royals are at the top spot in the points table with four wins in four games
Reddy, a 20-year-old batting all-rounder, set up victory with his 37-ball 64 laced with four fours and five sixes