The tax would be deducted at source (“TDS”) at the rate specified as per the Indian Income Tax Act, 1961 (as amended to date) or as per any other law in force at the time being. The User hereby agrees and acknowledges that the winnings from games, tournaments, or through any other services as provided by the Website/company shall be allowed to be withdrawn only after deduction of applicable TDS.
The Acehigh Poker User also agrees to furnish a scanned copy of his/her PAN (Permanent Account Number) duly issued to him/her by the Income Tax Department, Government of India, to deduct TDS as per the rules and regulations of the government of India. The User also agrees and acknowledges that deduction of TDS by the Website does not absolve the User from his or her overall liability to pay all applicable tax on his/her winnings from all games/tournaments played on the Website during the course of the year.
The User expressly acknowledges that it remains his/her liability to calculate the total tax due to the relevant tax authorities at the end of the year and to pay any balance tax over and above any TDS that would have been paid on the User’s behalf. A Game for a user ends once he/she withdraws chips from Poker Balance to User Balance and TDS, if applicable as per the regulations, will be deducted on the winnings at that time. Partial withdrawals from the user’s Poker Balance would not be allowed.
Here are the important Guidelines regarding the Acehigh Poker TDS calculation on your Poker Winnings. These changes are based on the current understanding of Section 194BA of the Income Tax Act,1961 ("the Act").
1. As per the Government regulations, we are changing our TDS Policy from 1st April 2023. As per the new policy for taxation on winnings, 30% TDS will be deducted from the user's Net Winnings*.
2. Contest Winnings, Bonus, and Rakeback are subject to TDS deduction.
3. When you request for withdrawal, firstly "non-taxable Deposits" will be withdrawn. If the "non-taxable Deposits" don't have sufficient balance to meet the required withdrawal amount, the remaining amount will be taken from the "Winnings" and TDS will be deducted as applicable.
4. Acehigh calculates TDS on the basis of Section 194BA of the Income Tax Act, 1961. You will get a TDS certificate from us which you can use at the time of filing your annual IT return.
5. As per the Indian Income Tax Act, every person is liable to pay his due taxes to the government on his own. Acehigh Poker is not responsible to pay off a player's personal tax-related liabilities in any situation.
*Net Winnings = Cumulative withdrawal during the year - Cumulative deposit during the year.