The points deduction leaves both teams with two points apiece in the WTC standings. They have also been fined 40 per cent of their match fee.
The second edition of the World Test Championship runs from 2021 to 2023.
Jamieson, who was the man of the match for his seven wickets in the final, felt nervous while watching the action from the dressing room.
The Kiwis have got the better of Team India in critical games consistently.
Paine had predicted India would "comfortably" beat Kane Williamson's side in the WTC final, only to be ridiculed on social media after New Zealand completed an eight-wicket win.
The eight-wicket loss to the Kiwis in Southampton on Wednesday has extended India's wait for a global title.
New Zealand became Test cricket's first official world champions on Wednesday by beating Kohli's team by eight wickets in a low-scoring final in Southampton.
Kane Williamson's men outwitted Virat Kohli & Co. at the Hampshire Bowl to be crowned Test cricket's first world champions.
Chasing 139 for victory in a low-scoring match, New Zealand romped home in the final session of the reserve day, which was activated to make up for lost time in the first five days.
India are 32 runs ahead with eight wickets in hand heading into the reserve day on Wednesday, which has been activated to make up for lost time in the weather-hit match.