TDS Policy
The TDS Policy at Pokerbaazi.com has been recommended by senior tax consultants in India, and proves to be advantageous for both players and the poker industry in the long run.
UPDATE: Your deposit and withdrawal ledger will become zero at 00:00 hours on 1st April of every financial year.
TDS Policy:
- The TDS will be deducted at the time of withdrawal.
- The TDS will be applicable only on the winnings and not the deposits.
- 30% TDS will be applicable if the net winnings of a player exceed INR 10,000 in a financial year.
- 5% TDS will be applicable on commission.
For reference,
Net winnings = Difference between Total Withdrawals in a financial
year and Total Deposits in the same financial year. Financial year
is counted from 1 April to 31st March.
What Does It Mean For Players?
If your net winnings at the time of making a withdrawal is more than
10,000, 30% TDS will be applicable on any amount being withdrawn.
For example: Your Total Deposits in the current
financial year at the time of withdrawal is 15,000. Your Total
Withdrawals in the current financial year at the time of withdrawal
is 28,000. 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entire amount being withdrawn.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 your net winnings at the time of making a withdrawal is less than
10,000, TDS will be not be applicable on any amount being withdrawn
unless the amount takes the net winnings above 10,000.
For example:
Your Total Deposits in the current financial year at the time of
withdrawal is 15,000. Your Total Withdrawals in the current
financial year at the time of withdrawal is 7,000. In the above
scenario, following will be applicable: If you withdraw upto 18,000,
there will be no TDS deduction. If you withdraw 20,000, there will
be 30% TDS deduction on 2000 only.
If there was TDS deducted at an earlier withdrawal and later your
net winnings go below 10,000, you will be eligible to withdraw
without any TDS deduction till your net winnings of 10K plus the
amount on which you have already paid the TDS.
For Example:Your Total Deposits in the current financial year at the time of
withdrawal is 50,000. Your Total Withdrawals in the current
financial year at the time of withdrawal is 40,000. TDS paid in the
current financial year is 6000 (That is on a winning amount of
20,000). In the above scenario, following will be applicable: If you
withdraw upto 40,000, there will be no TDS deduction. If you
withdraw 60,000, there will be 30% TDS deduction on 20000 only.
Will the ledger reset on 1st April of every new Financial Year?
Your deposit and withdrawal ledger will become zero at 00:00 hours on 1st April of every financial year.
TDS Policy for Commission Balance:
Real Cash Chips redeemed through either the CashBack Program or the Loyalty Program under Baazi Rewards will attract a standard TDS of 5% if withdrawn directly to a player’s Bank Account, and will fall under a separate category called “Commission”. Alternatively, players may choose to transfer this Commission amount to their PokerBaazi balance, in which case, the amount will be transferred and added to a player’s Winnings tally for the year.
