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TDS on Winnings

As per law, tax deduction at source (TDS) may be applicable on your winnings. The following illustrations explain how TDS will be determined for each format of the game.TDS is currently applicable at the rate of 30% on winning above r10,000 and the rate of TDS and/or the exemption limit are subject to changes from time to time as required by law.

Tournaments - Example

  • Suppose you participate in a tournament with r100/- entry fee and win r12,000/- in that tournament.
  • Since your net winning in that tournament is r11,900/- (r12,000/- minus r100/-) which is greater than r10,000/-, a TDS of 30% will be applicable of the net winning amount (r11,900/-) and will be deducted from the winning amount (r12,000/-).
  • r3,570/- (r11,900 x 30%) will be deducted from your winning amount and your account will be credited with r8,430/- (r12,000/- minus r3,570/-).

Deals Rummy - Example

  • Suppose you participate in a deals rummy game with r6,000/- entry fee and win r34,000/- in that tournament.
  • Since your net winning in that game is r28,000/- (r34,000/- minus r6,000/-) which is greater than r10,000/-, a TDS of 30% will be applicable of the net winning amount (r28,000/-) and will be deducted from the winning amount (r34,000/-).
  • r8,400/- (r28,000 x 30%) will be deducted from your winning amount and your account will be credited with r25,600/- (r34,000/- minus r8,400/-).

Points Rummy - Example

  • Suppose you participate in a Points Rummy game and your cash winning in that game is r13,000/-. Since your winning is greater than r10,000/-, a TDS at the rate of 30%, will be deducted from the winning amount.
  • r3,900/- (r13,000/- x 30%) will be deducted from the winning in that game and r9,100/- (r13,000/- minus r3,900/-) will be credited to your money on the table.

Pool Rummy - Example

  • You participate in a game of Pool Rummy with r3,500/- entry fee and win r20,000/- in that Pool Rummy game.
  • Since your net winning in that game is r16,500/- (r20,000 minus r3,500/-) which is greater than r10,000/-, TDS of 30% will be applicable of the net winning amount (r16,500/-) and will deducted from the winning amount of r20,000/-.
  • r4,950/- (r16,500 x 30%) will be deducted as TDS and your account will be credited for r15,050/- (r20,000/- minus r4,950/-).

In case you have any queries, please contact our customer support team at support@RummyCircle.com.

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