RK Ludo

×

Hey, 👋

Profile
☰

RK Ludo TDS Policy

This document outlines the Tax Deducted at Source (TDS) policy for all winnings on the RK Ludo platform. As per the Finance Act, 2023, a 30% TDS is mandatory on all net winnings from online games. This policy is effective from April 1, 2023.

How TDS is Calculated

The TDS is calculated at a fixed rate of 30% on your net winnings.

Net winnings are determined by the following formula:
Net Winnings = (Total Withdrawals + Closing Balance) - (Total Deposits + Opening Balance)

The TDS is applied only at the time of withdrawal or at the end of the financial year (March 31), whichever comes first.

Withdrawal Scenarios

  • Scenario 1: Withdrawing Winnings
    If your net winnings are positive at the time of withdrawal, a 30% TDS will be deducted from your withdrawal amount.
  • Scenario 2: No Winnings
    If you have no net winnings or your net winnings are negative, no TDS will be deducted.

Year-End TDS Calculation (March 31)

On March 31 of each financial year, we will calculate your total net winnings. If you have a positive net winning balance, the 30% TDS will be deducted from your remaining account balance (if any). This is to ensure all tax obligations are met for the financial year.

Form 26AS and TDS Certificates

All TDS deducted from your winnings will be deposited with the Income Tax Department of India. You will be able to view these deductions in your Form 26AS, and we will provide you with a TDS certificate for your records.

Player's Responsibility

It is your responsibility to provide accurate PAN details to ensure proper tax reporting. In case you do not have a PAN, a higher TDS rate may be applicable as per the law. We recommend consulting a tax professional for any questions regarding your personal tax situation.

Important Disclaimer

The information provided in this TDS policy is for informational purposes only. RK Ludo is not responsible for any personal tax filings. We encourage all players to seek independent tax advice.