Mega Poker TDS Policy

Before April 1, 2023:

As per the old TDS policy, 31.2 % TDS used to be deducted on each hand where Net Winnings (Winnings - Bet Amount) crosses Rs10,000.

New TDS Policy

A new section 194BA has been introduced for the TDS calculation by the Indian tax authorities, and Mega Poker is implementing the policy changes accordingly.

As per the new policy, a 30% TDS will be applicable on the player's net winnings, calculated at the time of every withdrawal request.

How will net winnings be calculated?

Net Winnings = Total Withdrawals, including current withdrawals during the financial year (FY23-24 Withdrawals) Total deposits by the player during the financial year (FY23-24 Deposits)

Any amount that has been previously subjected to Tax Deducted at Source (TDS) during an earlier withdrawal will also be deducted when calculating the net winnings at the time of withdrawal, specifically for FY 23-24 carryforward taxed withdrawals. (FY23-24 Carryforward Taxed Withdrawals)

If the net winnings amount is positive after calculation, the difference will be considered the taxable withdrawal amount on which the player will need to pay the applicable TDS. After deducting the TDS amount, the remaining balance will be processed as the final withdrawal amount to the player's bank account.

FAQs

If the net winnings are negative in a withdrawal event, there will be no TDS implication. But as the total withdrawals and deposits made by players are always counted in any TDS calculation, the benefit will be naturally passed on to every TDS calculation for the financial year.`,

The amount of TDS (Tax Deducted at Source) to be deducted from a withdrawal request is determined solely by the net winnings calculation. If a person has positive net winnings that have not yet been taxed, TDS will be levied on the redeemed amount.`,

The TDS deduction is solely based on the net winnings. If you have net winnings that are positive at the time of your withdrawal request, then the TDS deduction will be applied. You may review your account summary to see the specific details of the net winnings for both redemption instances.`,

For every withdrawal request where TDS is liable, the player will be communicated with via a pop-up on the screen with complete details on the requested withdrawal amount, the net winnings calculation, and the taxable withdrawal amount. The player can then proceed after verifying the information for their withdrawal.

If there is no TDS liability, the withdrawal will be processed without any changes to the withdrawal process.

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