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  3. New Tax Rules

New Tax Rules

What is 'Net Winnings'?

Net Winnings is the difference between the total amount withdrawn and the total amount deposited in a financial year.

Example -

Total Deposit  = ₹ 2000

Total Withdrawal = ₹ 3000

Here, Net Winnings = Total Withdrawal - Total Deposit

= ₹ 3000 - ₹ 2000

Net Winnings = ₹ 1000

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  • How can I get my Tax Certificate to file IT Returns?
  • If my 'Net Winnings' go down during the year, can I get a refund of tax already deducted?
  • What will happen if there is some amount remaining in my My11Circle A/c at the end of the Financial Year?
  • Will my Opening A/c Balance be considered if I want to make a withdrawal at the start of the new Financial Year (April 2024)?
  • Will tax be deducted if I withdraw an amount lesser than my total deposits?
  • When will tax be deducted?
  • How is tax calculated on 'Net Winnings'?
  • What is 'Net Winnings'?
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