FAQ's

TDS FAQ's

1. What is TDS and when is it deducted?

Tax deducted at source or TDS as per law (Income Tax Act, 1961), for withdrawals during the year TDS 30% shall be applicable on that portion of the withdrawal which is Net Winnings:

Net Winnings in case of Withdrawal = A – B – C – D; Where,A = Aggregate withdrawals from the user account during the existing year till the date of withdrawal, B = Aggregate amount deposited in the user account during the year up to the date of withdrawal.C = Balance in the user account at the beginning of the year, including both deposits made by players and the winnings from playing games and excluding the bonus given to players.D = Winnings comprised in earlier withdrawals made from the user account in the current year, on which TDS was deducted in accordance with the provisions of the section 194 B

    2. What happens to the TDS deducted from my winnings?

    Valued Rummy will deposit the TDS amount with the Income Tax Department against your PAN Card number. Hence, it is mandatory that you provide us with your correct PAN card details so that you can claim the TDS benefit while filing your tax returns.

      3. Do I get TDS certificate for the TDS deducted?

      Yes, we will issue TDS certificate for the amount of TDS deducted from your account.

        4. When do I get the Certificate?

        You will get the TDS certificate at the end of every quarter in the Financial year (April 1 to March 31) we deposit the TDS once every quarter and the TDS certificate is issued by the end of next quarter. So, for any TDS amount deducted in Jan/Feb or March, you will get the certificate by the end of next quarter (May/June).

          5. How to get TDS certificate?

          The TDS certificate is sent by our Support team to your registered email address. You can also get a copy of the certificate on request, in-case you change your registered email address, please keep us informed.

            6. Still have questions/doubts?

            You can send an email to contact@valuedrummy.com for any doubts/queries you may have regarding this matter.