TDS Policy

TDS Policy – Zesty Games

Transparent Tax Deduction on Winnings

TDS is applicable at the time of withdrawal and also at the year end. 30% TDS is applicable on net winnings at the time of withdrawal and also at the year end.

Net winnings = Total withdrawals - Total deposits*
(* Total deposits = deposits in the financial year + opening balance of the financial year)

Any net winnings which have suffered TDS at the time of any earlier withdrawal would also be reduced while computing net winnings at the time of withdrawal.

Note: The TDS Policy is based on Finance Act, 2023. The Company reserves the right to update this policy based on applicable law.

Scenario 1:

• Account Balance on 25 Mar 2023: ₹10,000
• Withdrawal on 5 Apr 2023
• Opening Balance (1 Apr 2023): ₹10,000
• Total withdrawals (A): ₹10,000
• Total deposits (B): ₹10,000
• Net winnings (A - B): ₹0
• TDS applied: ₹0

Scenario 2:

• Opening Balance: ₹3,000
• Deposit on 2 Apr: ₹7,000
• Total deposits (B): ₹10,000
• Withdrawal (3 Apr): ₹5,000
• Net winnings (A - B): -₹5,000
• TDS applied: ₹0

Scenario 3:

• Opening Balance: ₹3,000
• Deposit: ₹7,000
• Total deposits (B): ₹10,000
• Total withdrawals (A): ₹12,000 (₹5,000 + ₹7,000)
• Net winnings: ₹2,000
• TDS on ₹2,000 @ 30%: ₹600
• Amount credited to bank: ₹6,400