Net winnings* = The difference between Total Withdrawals in a financial year and Total Deposits in the same financial year. A financial year is counted from 1st April to 31st March.
For example, if you have deposited a total of Rs 5,000 in the year, and won the game of having prize pool Rs. 9500,
your Net Winnings will be = (9500 – 5,000) = Rs 4500 and TDS will be deducted @ 30% on 4500. 30% tax as TDS will be deducted on net winnings
at the time of withdrawal. In case of no withdrawal in the entire financial year, TDS will get deducted from net winnings as on 31 March 2024.
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