Do I have to pay taxes when I withdraw my winnings on Real11?

Yes. TDS will be deducted at 30% of your taxable amount at the time of withdrawal, according to the new Government Tax (TDS) law, which goes into effect on April 1, 2023.

The difference between your withdrawals and deposits is the taxable amount. This is how it is calculated:

Amount Taxable (Net Winnings) = A - B - C - D

A = Total withdrawals (including current withdrawal amount)

B = Total deposits

C = Opening balance at the start of the fiscal year

D = Amount on which TDS has been deducted till date