TDS

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 from April 1st 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

B = Current Withdrawal

C =Total Deposit

D =Opening Balance At FY (D)

What are the terms & conditions for the TDS refund offer?

- A user will get a % TDS (Tax Deducted at Source) refund if they fall into any of the mentioned categories below:

If a user makes a withdrawal once(1) in a month, they will be eligible for 100% TDS Cashback
If a user makes a withdrawal twice(2) in a month, they will be eligible for 70% TDS Cashback
If a user makes a withdrawal thrice(3) in a month, they will be eligible for 30% TDS Cashback

If a user makes more than 3 Withdrawal transactions in a month, they won't be eligible for the TDS refund policy.

- Real11 holds the right to end the promotion immediately and without any notice.

CASE 1:

% of refund: Users will receive 100% TDS cashback if they withdraw only once(1) in a month.

Withdrawal Amount: ₹2,00,000
Applicable TDS Rate: 30%
TDS Cashback Offer: 100% refund on TDS

CASE 2:

% of refund: Users will receive 70% TDS cashback if they withdraw twice(2) in a month.

Withdrawal Amount: ₹2,00,000
Applicable TDS Rate: 30%
TDS Cashback Offer: 70% refund on TDS

CASE 3:

% of refund: Users will receive 30% TDS cashback if they withdraw thrice(3) in a month.

Withdrawal Amount: ₹2,00,000
Applicable TDS Rate: 30%
TDS Cashback Offer: 30% refund on TDS

CASE 4:

Users won't be eligible for any TDS refund if they make more than 3 transactions in a month.

If the withdrawal is successful, a user will receive a % TDS cashback refund in his/her deposit wallet within the first week of next month after following the above terms and conditions.

Capping Amount Limit:

Max TDS Refund Amount for per user: ₹30,000.

This TDS policy will be applicable from 01st February 2025.