Khelo365
  • Players : 198
  • Tables : 19

TDS Policy


As per section 194B of the Income Tax act any winnings from Card Games which is more than Rs 10,000 in a Financial year will attract TDS @30%.

TDS will be calculated as per current Financial year from 1st April 2019 to 31st March 2020.

TDS is calculated as per below calculations.

  1. If (Current Financial Year deposits minus Current Financial Year cashouts (including current cashout request) if Deposits are higher than Cashouts then no TDS will be deducted.
  2. If (Current Financial Year a Players deposits minus Current Financial Year Players Cashouts (including current cashout request) if Cashouts are higher than Deposits by Rs 10,000/- then TDS will be charged @30%.
  3. Whatever TDS is deducted will be paid to Income Tax Department as per Player PAN details. Players can check TDS amount paid on the Income Tax website.

* Please note only 2 Cashout Requests can be placed per day. (Max Cashout Limit Rs 1,00,000/- Per Day)

Examples

  • If a player’s winnings (entire financial year) at the time of making a withdrawal is more than Rs 10,000, 30% TDS will be applicable on any amount being withdrawn. For example: Players Total Deposits in the current financial year at the time of withdrawal is Rs 25,000. Players Total Withdrawals in the current financial year at the time of withdrawal is Rs 35,001. In the above scenario, following will be applicable: If you withdraw any amount, there will be 30% TDS deduction on the entire amount being withdrawn.
  • If a Players winnings at the time of making a withdrawal is less than Rs 10,000, TDS will not be applicable on any amount being withdrawn unless the amount takes the winnings above Rs 10,000. For example: Your Total Deposits in the current financial year at the time of withdrawal is Rs 20,000. Your Total Withdrawals in the current financial year at the time of withdrawal is Rs 25,000.
    In the above scenario, following will be applicable: If you withdraw up to Rs 5000, there will be no TDS deduction. If you withdraw over 5000, there will be 30% TDS deduction on the amount which is over Rs 5,000.