TDS Policy
TDS has been deducted from the user's winnings of Rs. 100,000 and more until March 31, 2023. Since April 1, 2023, new TDS regulations have been in effect. The following adjustments have been made to Think11 in accordance with the most recent TDS Rules, which go into effect on April 1, 2023.
The user's withdrawal amount, not their winning amount, will be subject to TDS deduction.
A 30% TDS will be applied to the withdrawal amount, which is determined by the user's net winnings. As a result, the user will receive their entire winnings in their winnings, and TDS will only be taken out when they withdraw.
The following transactions will be taken into account when calculating the user's net winnings for the April–March fiscal year:
- The user's overall earnings.
- The user's whule deposit.
- The user's total withdrawal amount to date.
- TDS that the user has paid thus far
- The entire amount owed by the user in the winnings as of the fiscal year's last day. In this instance, TDS will be applied to the user's current balance as of March 31 of that fiscal year, with the remaining amount being carried over to the following fiscal year.
Calculation of TDS
Net winnings will be subject to TDS, which will be calculated using the following formula: Total Withdrawal (including the value of the current withdrawal transaction) = Net Winnings Total Deposit (accrued during the fiscal year) Opening balance (Deposit+Winning) as of April 1, 2023 The amount from which TDS has been withheld as of April 1, 2023.
* FY: Fiscal Year, which begins in April and ends in March. FY 2023-24, for instance, begins on April 1, 2023, and concludes on March 31, 2024.
