Dream11 winning amout Tax Query
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Hi guys, I wonder why do people play head to head 10k contest by investing 5750 rs as entry fee?? I have read they deduct 31.2% as tax amount on total wining of 10k. Please enlighten. Thanks
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Anyone?? No one?
@flawlessking – You cannot claim the TDS deducted by Dream 11 as refund, if we strictly go as per the provisions of Income Tax Act.
However my friend claimed a refund of TDS deducted by Dream 11 amounting to 25k as he declared the same as his Income and paid tax as per the prevailing slabs.
So yes it’s risky but these people might also end up going it.
Why can’t we bro? I mean which provision says so?
Because they load d11 with 50% to 100% cb.
They can loos as much as 32% or even 40%
Still they get 60% profit.
Means 4k for 12k investment is profit.
They do on large scale.say 1cr per month which yields 4L profit with full income tax deducted. Relatively safe
Even engineers wont make 4L p.m
Your Assumption is wrong bro…..There are some terms and conditions for using bonus/cashback. Only 10% can use as a bonus for joining big leagues. some leagues they are us to use 100% but maximum is 25 rupees.
No tax deducted for m 10000
If you won more than 10k like 10001 or 15k or etc ur money get deducted by 33%
Great thanks, that’s what i needed to know…
@flawlessking – what if I earn only 10,000 not more than that . Will 31.2% deduction take place ?
No it won’t, tax is imposed on 10k+ onwards, Tried.
right
Plz cancell kar do tds return kar do mara Paisa mujhe nhi khela ha dream 11 isma tds laga ha is liya plz help me
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