GOVERNMENT TAX POLICY


  • The following tax policy is applicable to the poker websites and applications (together the “Platform”) operated by Quadrific Media Private Limited (the “Company”).

  • All withdrawals on the Platform are subject to withholding tax (TDS) as per applicable rates (currently. 30% (plus applicable cess) on withdrawals in excess of Rs. 10,000) which is submitted to the Indian tax authorities under section 194B of the Income Tax Act. 

  • All withdrawals from the Platform will be aggregated to calculate the User’s TDS liability and TDS will only be deducted on qualifying withdrawals, i.e., withdrawals within a twenty four (24) hour period (from IST 4:00 PM on one day to IST 3:59 PM on the next day)  that aggregate to an amount in excess of Rs. 10,000.

  • Withdrawal requests on the Platform will be processed on bank working days, as applicable in Mumbai.

  • Please note that in case a User is classified in either the ‘Spartan Elite’ category of Users on the Platform on the date of withdrawal, the applicable TDS shall not be deducted from any qualifying withdrawals and the Company will bear TDS liability as may be applicable under the relevant act on his/her withdrawals till such time that the User remains a ‘Spartan Elite’ User.

 

 

 

 

 

 

 

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