TDS Policy
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Published: December 20, 2023
Updated: December 20, 2023
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Rummy Modern TDS Policy

  • TDS will be deducted at the rate of 30% on your Net Winnings at the time of withdrawal.
  • Net Winnings are calculated as the difference between your total winnings and total deposits during the financial year.
  • If your Net Winnings are less than ₹100 in a financial year, then no TDS will be deducted.
  • If you have not provided your PAN details to ModernRummy App, then TDS will be deducted at the higher rate of 40%.
  • You can claim a refund on TDS paid by filing your income tax returns.

Example:

Let’s say you have deposited ₹10,000 in Rummy Modern Apk and have won a total of ₹20,000. Your Net Winnings will be ₹10,000 (₹20,000 – ₹10,000). When you withdraw this amount, ModernRummy App will deduct TDS at the rate of 30%, i.e., ₹3,000. You will receive ₹7,000 in your bank account.

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