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  3. Tax deducted at Source- TDS

Tax deducted at Source- TDS

I play on both RummyCircle & My11Circle. How will this impact me?

  • Players playing all games offered by Games24x7 have a common wallet across games. So, for taxation, the entry fee paid for all games will be deducted from the winnings from all games. The balance amount will be considered for taxation at the rate of 30%.
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  • If my ‘Net Winnings’ go down during the year, can I get a refund of the TDS already deducted?
  • When will the tax be deducted?
  • What is TDS?
  • I play on both RummyCircle & My11Circle. How will this impact me?
  • How can I get my Tax Certificate to file IT Returns?
  • What are the latest changes to TDS (Tax Deducted at Source) on online gaming apps?
  • What is ‘Net Winnings’?
  • How is tax calculated on 'Net Winnings'?
  • Will tax be deducted if I withdraw an amount lesser than my total deposits?
  • Will my Opening A/c Balance be considered if I want to make a withdrawal at the start of the new Financial Year (April 2023)?
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