Adda52 VIP Tables
Q. What is a VIP table?
A. VIP tables are high stakes poker tables at Adda52.com. The chip type used on these tables is VIP.
Q. How can I play on a VIP table?
A. To play on a VIP table, you need to convert your Real Chips into VIP chips. When you take seat on a VIP table, the real chips are automatically converted to VIP chips. Alternately, you can convert real chips to VIP chips from the game lobby. You just need to go to the “VIP Chips” tab and then click on “Convert Real to VIP Chips”. Once you fill in the amount, appropriate number of Real Chips will immediately be converted into VIP Chips.
Q. What is the policy of TDS deduction while converting VIP chips back to Real?
A. Let's take an example, say you convert Rs.5000 from Real to VIP.
Now suppose you play and accumulate Rs.20000 by playing on VIP Table.
Your Winning = 20000 - 5000 = Rs.15000
If Winning is more than 10000(as in this case), then 30% tax is deducted from winning and remaining 70% is credited back to your Adda52 account.
Here, TDS = 30%of 15000 = 4500
Now if you convert 20000 VIP Chips back to Real, amount put back in your adda52 real chips balance = 20000-4500= 15500.
Example 2: You convert 5000 real chips to VIP. Now suppose you lose and are left with 4000 VIP chips. Now if you wish to convert these back to real chips, no TDS is applicable since there are no winnings.
When you leave the VIP tables, you get the option to convert VIP chips back to real chips. It is NOT mandatory to convert VIP chips into real chips. You can even leave the chips as VIP itself. This way, when you want to play high stakes games in future, you can directly use your VIP chips balance to play.
Q. Tips to minimize TDS deduction?
A. If possible, convert from VIP to real chips rarely. If you convert at a time when your winnings are less than 10K, no TDS will be deducted.
Note:
1. Winning is calculated when you convert your VIP chips to Real.
2. You can take a TDS credit if you provide your PAN number to us. We submit the TDS to the government in the first week of every month and file a TDS return every quarter end. Therefore, if we receive your PAN number, you can take credit for that amount while filing your annual IT return.
3. At the end of every Quarter, all the VIP chips are automatically converted back to real chips. This happens without any user action and is mandatory and done automatically by the server.
