India’s No.1 Poker Site – Adda52 has always been exploring some unique ways to cater to the emerging needs and demands of players in the country. Known for its thrilling cash game action, high-value tournaments, lucrative leaderboards and unique promotions, the company has been doing every possible thing for its players. To kick-start New Year on a strong note, the company has announced a ‘New TDS Policy’ for taxation on winnings in Ring Games, Tournaments and Sit & Go.
Effective 2nd January 2020, Adda52’s New TDS Policy is based on the feedback of players and advice from senior tax consultants. It promises to benefit both players and the industry as all forms of poker games, as per the policy, will be played with VIP chips & winnings will be credited to VIP wallet. TDS will be applicable on Net Winnings calculated at the time of converting VIP chips to Poker Wallet.
New TDS Policy
– 30% TDS will be deducted on Net Winnings of 10,000 & above at the time of VIP to Poker Wallet Conversion
– As per the new policy, Net Winnings will be calculated every time a user coverts VIP Chips to Poker Wallet. Net Winnings = Total Withdrawal – Total Deposit
-The Net Winnings will be calculated based on overall gameplay in a Financial Year.
For more details on the New Taxation Policy of Adda52.com, just check out this LINK here.