Konkona's birth father, Mukul Sharma, is a science writer and journalist. Her stepfather, Kalyan Ray, is an author. Her elder sister's name is Kamalini Chatterjee who has two children: a 10-year-old daughter named Krittika and a four-year-old son named Deepto.
Konkona's maternal grandfather Chidananda Dasgupta now 88 years old is a film critic, scholar, professor, writer and one of the co-founders of 'Calcutta Film Society' with Satyajit Ray and Harisadhan Dasgupta. Her grandmother Supriya Dasgupta is a cousin of legendary modern Bengali poet Jibanananda Das.
Konkona graduated in English from St. Stephen's College, Delhi in 2001. She was a student of Modern High School for Girls, Calcutta as well as the Calcutta International School.
She made her debut as a child artist in the film Indira. She became a known face when she starred in the film Mr. and Mrs. Iyer, directed by her mother. The film though not a box office success, was a favourite with the critics. Konkona's performance got her the National Film Award for Best Actress. This was followed by a critically acclaimed hit, Page 3. The film won her the Zee Cine Award Best Female Debut for her first act in commercial cinema.