TDS Policy

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TDS Policy

Withdrawals on are subject to withholding tax (TDS) as per applicable rates (i.e. 30% currently) which is submitted to the Indian tax authorities under section 194B of the Income Tax Act.

TDS of 30% will be deducted for any winnings above INR 10,000 in a financial year (1 April – 31 March) at the time of withdrawal.

Thus if your withdrawals exceed INR 10000 in a financial year, TDS of 30% +0.9% Higher Education Cess will be deducted from the entire winnings that are withdrawn during the remaining period of that financial year.

TDS will only be deducted from qualifying withdrawals. It is calculated at the time of the withdrawal and is on the amount withdrawn during the financial year in excess of INR.10,000.