Dream11 -TDS will be deducted on every withdrawal

@Pikachu @onlineuser7 @AyushiiiVijay @Archie @Akki_Patel @hanu77 @suplex_city @Eeep @doesnotmatter @Vaastav @abhijitsharma.1996 @motabhaii; @undertaker007; @Ots14; @Hi.Debasish; @Bharatwasi; @dhawal.goel007974 @flawlessking @Sainnnn @mahesh.c08480 @BeUnique @OnlineLooter1 @manishs @arya10 @sheetallakhotia453 @a21pbdpO @MSDfan @kunal94 @Harshdeep_Singh1414 @co0l1992 @saichand.sanka @Dracarys @tupzee87667 @rohitx @kunal.contactme339 @UndercoverDeal @Nildeals @MONISHSRAI @hinnb347822 @anilkumarkolla @rajeevoffice1994377 @ismartdeals @xxxxCKxxxx @soccergiants @dudesam @insta_vicky @Mayavi @Harshdeep_Singh1414 @prem4998 @TheAce @Ash-D @androgame @anik23 @Venom14 @rshushi86 @Khann_Shahid @LibraRamesh @manishs @DooMLoRD @undertaker007 @Nik14 @Ryaz @naman11 @venky43 @itsmejerry @superchamp05 

@shh_my_dog_is_sleeping

Yes ..would withdraw whatever winnings i have before midnight.

This was added in this years budget

What is t n c?

Now will only play if cash bonus is available in account

Withdrawn winnings few days back

Maybe this applicable on all fantasy apps. 

manishs wrote:

Maybe this applicable on all fantasy apps. 

Yes, but it's only on net winnings (after deducting the cost of ticket) 

Yes

Withdrawal all money

androgame wrote:

Yes, but it's only on net winnings (after deducting the cost of ticket) 

But what if loose. Govt. should give something 

Akki_Patel wrote:

Withdrawal all money

Your current winnings will face no implications, would be applicable for winnings that you incur from tomorrow onwards

manishs wrote:

But what if loose. Govt. should give something 

Till June it's on cumulative basis only, i.e. If you lose then that would be carried forward for calculation of tds deduction. 

For tax calculation as well, we need to take for the whole year cumulatively. So no issues even if you lose.

manishs wrote:

But what if loose. Govt. should give something 

DreamCoins🤭

androgame wrote:

Till June it's on cumulative basis only, i.e. If you lose then that would be carried forward for calculation of tds deduction. 

For tax calculation as well, we need to take for the whole year cumulatively. So no issues even if you lose.

Earlier it was minimum 10k, doesn't bother about other transactions.

manishs wrote:

Earlier it was minimum 10k, doesn't bother about other transactions.

Yes, but there's literally no harm in tds (considering hardly anyone actually wins on dream11). Tax payable would anyway be on net amount only. 

Would help in tracking txns, and create a hindrance for people to play on these platforms, which is good. 

What if I play 49 rs contest, pay 25 from CB and rest from own money and win back 49 rs (same as entry fees) will there be any deduction?

DooMLoRD wrote:

What if I play 49 rs contest, pay 25 from CB and rest from own money and win back 49 rs (same as entry fees) will there be any deduction?

There's no clarity on that yet, from my understanding it would be 0.

Will have to wait till after 30 June to confirm. 

androgame wrote:

There's no clarity on that yet, from my understanding it would be 0.

Will have to wait till after 30 June to confirm. 

I hope it'll be 0, otherwise useless to play D11 when we have to pay tax for our own money

DooMLoRD wrote:

What if I play 49 rs contest, pay 25 from CB and rest from own money and win back 49 rs (same as entry fees) will there be any deduction?

Just checked dream11 terms page bro, they have deducted cb from entry cost, so deduction would be 30% of (49-24=25) = 7.5 rupees (edited)

Thanks @undertaker007 for correction

DooMLoRD wrote:

What if I play 49 rs contest, pay 25 from CB and rest from own money and win back 49 rs (same as entry fees) will there be any deduction?

30% on 24.

androgame wrote:

Just checked dream11 terms page bro, they have deducted cb from entry cost, so deduction would be 30% of (49-25=24) = 7.2 rupees 

Damn, govt won't let us live in peace . It's like now we'll be getting 70% cash bonus from now on.

DooMLoRD wrote:
Damn, govt won't let us live in peace . It's like now we'll be getting 70% cash bonus from now on.

Frankly government hasn't clarified on this, companies can very well play on this as a grey area untill official clarification.

On the flip side, companies will have to give much more offers from now on, to lure users. Ipl also starts from today. 

manishs wrote:

30% on 24.

Small correction - 30% on 25

IPL ke opening day pe excitement aadha ho gya🥴

androgame wrote:

Frankly government hasn't clarified on this, companies can very well play on this as a grey area untill official clarification.

On the flip side, companies will have to give much more offers from now on, to lure users. Ipl also starts from today. 

Yes they should give more cash bonus from now on but till now no cash bonus offer, only payment offers are there which aren't too attractive.

Now, they need to give at least 600 Cash Bonus on 1000 to cover the TDS cost of players

(Dhamaka graphics and sound) then (IPL tune : pa pa pa pa pa )

Now Govt will win more. Already they were.
Mostly players will get affected.