Magic Rummy APK

Rein Games Private Limited

3.9 rating 14 reviews

23 MB 1k+ installs

₹ 510 signup bonus

₹ 50 Min. Withdrawal

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Magic Rummy TDS Policy

Tax Deducted at Source (TDS) is applied during withdrawals from Real Money Gaming Apps.

TDS is levied at a rate of 30% on net winnings if they exceed total deposits in a financial year.
Net winnings are calculated as withdrawals minus deposits within the financial year (April 1 to March 31).
If net winnings exceed total deposits at withdrawal, 30% TDS applies on the exceeding amount.
If net winnings are less than total deposits, no TDS applies unless the withdrawal increases total withdrawals beyond deposits.
If TDS was deducted earlier and net winnings fall below total deposits, withdrawals can be made without TDS deduction up to the net winnings plus the TDS-paid amount.
TDS is deducted during withdrawal and at the end of the financial year based on the total tax liability.
Players can file returns with the income tax department to claim refunds, and Magic Rummy issues tax deduction certificates.
Tax certificates are issued within 1 month from the last date of TDS returns filing for each quarter.