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FAQ Single Wallet
In order to give you a more enjoyable playing experience, we have come up with a single wallet approach instead of having 2 separate wallets for deposit- withdrawal, and gameplay.
All of your deposits, bonuses, and winnings will now be credited to this wallet only. Please read the below FAQs for more details.
What is a Single Wallet? What are the components of a Single Wallet?
You will now have one wallet only. So, this is a one-stop for all your deposits, winnings and withdrawals! The components of a Single Wallet are Real Money, Instant Bonus and Tournament Bonus.
What happens to my previous Balance?
Your balance is safe with us. On 31st March 2021, as a regular exercise, we have transferred your VIP chips balance to your Poker Wallet (subject to TDS deduction). After that, your total Real money balance has been considered as a deposit/investment. You can check both the transaction entries in My Account > History > Ledger.
You can check your balance in My Account under the Real Money, Instant Bonus and Tourney Bonus sections.
Where will my winnings and deposits be credited?
Your winnings and deposits will be credited in the "Real Money" section.
Where can I see my TDS deduction entry which happened on 31st March 2021?
You can check all your TDS entries in My Account > History > TDS or My Account > History > Ledger.
Where can I see my previous VIP History?
You can check your previous VIP history in My Account > History > Ledger.
In which sequence the deposit and winning will be withdrawn?
When you request for withdrawal, firstly the deposit amount will be withdrawn. If the deposit section doesn't have sufficient balance to match the requested withdrawal amount, the remaining amount will be taken from the "winning" section and TDS will be deducted as applicable.
Will there be any TDS deduction if I withdraw my deposits/invested amount?
No TDS will be applicable when you withdraw your deposit/invested amount. TDS is applicable on winnings only.
Example:
A user has Withdrawable Balance: 30,000 (deposit 25,000 + winning 5,000)
The user withdraws Rs. 20,000 (20000 Deposit + 0 Net winning). No TDS will be applicable.
Where can I see my deposit/invested amount eligible for a withdrawal?
You can see this amount on the statement below the "Withdrawable Amount" section.
When is my TDS calculated?
TDS is calculated at the time of withdrawal.
Steps to calculate TDS:
Enter the amount you want to withdraw.
Click on the "Calculate TDS" button to calculate the applicable TDS on that amount.
Click on the "Transfer" button. A confirmation message will be shown.
Click on "Proceed" to confirm your withdrawal request.
You can also see updated TDS policy Here.
How will the TDS be calculated?
At the time of withdrawal, 'Net Winnings' of more than 10,000 are subject to TDS of 30% and payment to the player will be after deduction of such taxes.
Example:
A user has Withdrawable Balance: 30,000 (deposit 5,000 + winning 25,000)
Case 1:
The user withdraws Rs. 15,000 (5000 Deposit + 10000 Net winning). No TDS will be applicable.
Case 2:
The user withdraws Rs. 20,000 (5000 Deposit + 15000 Net winning). 30% TDS will be applicable on net winning i.e. 30% of 15000.
You can also see updated TDS policy Here.
Will there be any TDS deduction if I withdraw my net winnings up to 10,000?
No TDS will be deducted if your withdrawal amount of net winnings is <=10,000. This is applicable for each withdrawal.
As per the Indian Income Tax Act, every person is liable to pay his due taxes to the government on his own. Adda52.com is not responsible to fulfill a player’s personal tax-related liabilities in any situation.
Will there be any reset of accounts at the end of each financial year?
Moving forward from 31st March 2021, there will be no reset of accounts and with the single wallet introduction, all of your profit & loss will be carried forward for a lifetime.
Why are Instant Bonus and Tourney bonus not showing as my investments in the Ledger section?
Instant Bonus and Tourney bonus will not be considered for tax purpose.
Why can I not withdraw my deposit amount?
Withdrawal of deposits is allowed once you make the required release units (subject to terms and conditions). You can check the remaining required release units to make your amount withdrawable from the "Hold Amount" section.
What is the Hold amount section?
This is a non-withdrawable deposited amount, which is on hold because you have not earned the required release units. Here, you can check the details of the Release Units required to make this amount withdrawable.
How many withdrawal requests can I make in a day?
A player can make withdrawal requests as per the below table.
| Loyalty Level | Allowed withdrawal Count/Day |
|---|---|
| Rookie | 2 |
| Jacks Den | 2 |
| Queens Haven | 3 |
| Kings Court | 3 |
| Acers Adda | 4 |
