3.9 rating 14 reviews
23 MB 1k+ installs
₹ 510 signup bonus
₹ 50 Min. Withdrawal
Magic Rummy TDS Policy
Tax Deducted at Source (TDS) is applied during withdrawals from Real Money Gaming Apps.
- TDS is levied at a rate of 30% on net winnings if they exceed total deposits in a financial year.
- Net winnings are calculated as withdrawals minus deposits within the financial year (April 1 to March 31).
- If net winnings exceed total deposits at withdrawal, 30% TDS applies on the exceeding amount.
- If net winnings are less than total deposits, no TDS applies unless the withdrawal increases total withdrawals beyond deposits.
- If TDS was deducted earlier and net winnings fall below total deposits, withdrawals can be made without TDS deduction up to the net winnings plus the TDS-paid amount.
- TDS is deducted during withdrawal and at the end of the financial year based on the total tax liability.
- Players can file returns with the income tax department to claim refunds, and Magic Rummy issues tax deduction certificates.
- Tax certificates are issued within 1 month from the last date of TDS returns filing for each quarter.