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Adda52 TDS Policy
Important Rules regarding TDS calculation on Winnings:
- As per the government regulations, we are changing our TDS policy from 1st April, 2023. As per the new policy for taxation on winnings, 30% TDS will be deducted from the user’s net winnings.
- Rakeback (Payoff) is subjected to TDS.
- Instant Bonus and Tournament Bonus credited through any mode are considered as a separate entity, instead of investments or winnings. All other characteristics of Instant Bonus and Tournament Bonus will remain the same.
- Leaderboard/contest winnings, if given in Real Money, are subject to TDS deduction.
- When you request for withdrawal, firstly the "Tax-Free (deposits)" amount will be withdrawn. If the "Tax-Free (deposits)" doesn't have the sufficient balance to match the requested withdrawal amount, the remaining amount will be taken from the "Winnings" and TDS will be deducted as applicable.
- Adda52 calculates TDS on the basis of Section 194BA of the Income Tax Act. You will get a TDS certificate from us which you can use at the time of filing your annual IT return. We submit the TDS to the government in the first week of every month and file a TDS return every quarter-end. Your Pan number is required to apply for a TDS certificate.
- 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 for fulfilling player’s personal tax-related liabilities in any situation. It is advisable to hire the services of a professional financial accountant to calculate and file income tax returns.
Q - How are the net winnings calculated?
The net winnings’ calculation is done in real-time with the below-mentioned formula:
Net Winnings = Total Withdrawals including current withdrawal during FY - Total Investment during FY
To understand more, take a look at the below scenario:
1st Instance -
You deposit ₹5,000 in your wallet in a year to play the cash games. Throughout the year, your winnings stand at ₹30,000. Now, when you request for a withdrawal, your net winnings will be:
35,000 – 5,000 = ₹30,000
Q - How can I calculate the TDS before withdrawing my money?
- 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.
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