TDS Policy
PokerBaazi, a law-abiding company, adheres to the rules and regulations implemented by the government. Since new section 194BA has been introduced, we are abiding by the rules.
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 only on the net winnings of a player in the 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?
PokerBaazi, a law-abiding company, adheres to the rules and regulations implemented by the government. Since new section 194BA has been introduced, we are abiding by the rules.
For example:If your net winnings at the time of making a withdrawal is more than the amount deposited, a TDS of 30% will be deducted on withdrawal of any amount.
Your Total Deposits in the current financial year at the time of withdrawal is 15,000. In the above scenario, there will be no TDS charges on withdrawal of 15,000 or below. However, if you withdraw 15,500 a 30% TDS will be applicable on 500. Similarly, if you wish to withdraw 20,000, a 30% TDS will be applicable on 5,000.
For example:
If your net winnings at the time of making a withdrawal is less than the amount deposited, TDS will not be applicable on any amount being withdrawn.
Your Total Deposit amount in the current financial year at the time of withdrawal is 15,000. Your Total Withdrawal amount in the current financial year at the time of withdrawal is 7,000. In the above scenario, there will be no TDS deduction on withdrawal of any amount less than 8000.
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.
