TDS Deduction
Do I have to pay taxes when I withdraw my winnings on Real Rummy?
Yes. According to the new government tax (TDS) law, TDS will be deducted at 30% of your taxable amount at the time of withdrawal.Withdrawal Downtime
To facilitate the year-end TDS calculation, withdrawals on the Real Rummy Platform will be temporarily frozen from 6 PM on March 31, 2025, until 8 AM on April 1, 2025.
TDS Deduction Timeline
TDS will be deducted on 31st March at Midnight. The deductions will be calculated and applied automatically based on your Real Rummy transactions and all players liable to pay TDS. Real Rummy is required to adhere to tax regulations set by the government to guarantee compliance and transparency in financial year transactions.
Taxable amount is defined as the difference between your withdrawals and deposits. Here's how it's calculated:
Taxable Amount (Net winnings) = A + E - B - C - D
- A = Total withdrawals (including current withdrawal amount)
- B = Total deposits
- C = Opening balance at FY beginning
- D = Amount on which TDS was deducted to date
- E = User's existing wallet balance will be counted as a withdrawal amount
Users’ withdrawal amount will be held (put on hold) on 31st March and 1st April. As the FY ends, we want to keep you updated with the TDS policy.
In case of further help, feel free to reach out to us at support@realrummy.live.