TDS policy

 

All withdrawals 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 will only be deducted from qualifying withdrawals. It is calculated at the time of the withdrawal and is on the amount withdrawn in a single day IST (Indian Standard Time) from 00:00 to 23:59 more than Rs. 10,000. In these cases, you will be required to furnish your Permanent Account Number (PAN) duly issued to you by the Income Tax authorities if you have not already done so.

However, we neither advise you nor shall in any manner be responsible for your individual tax matters.

We reserve the right to verify your PAN from time to time and to cancel any prize should your PAN be found inconsistent in our verification process.

TDS Refund: If your deposits are more than withdrawals, the amount deducted as TDS will be refunded within 24-48 working hours.