TDS Reporting for Financial Year 2023

The Indian Financial Year 2023 / 2024 will come to an end on 31st March 2024. To ensure accurate reporting and compliance with Indian TDS requirements, the game client will be put under maintenance from 23:00 IST (31st March 2024) to 02:00 IST (1st April 2024). This may impact your gameplay experience in the following ways

1. Unable to Login

Kindly note that you will not be able to log into your account during this period of time.

2. Suspension of Cashier Page

We will be suspending any deposit / withdrawal requests one hour prior to the scheduled maintenance i.e. at 22:00 IST (31st March 2024). As such, we encourage you to make your deposit and withdrawal requests prior to the stated time.

3. Closing Balance Capture

Your closing balance as of 23:59 IST on 31st March 2024 will be crucial for TDS reporting purposes. Therefore, we aim to finalize all deposits and withdrawals before the commencement of the maintenance process.

4. Cash Game Participation

If you are participating in any cash games prior to the scheduled maintenance, it will be necessary to conclude your gameplay session before 23:00 IST on 31st March 2024. Otherwise, you will be automatically logged out of your account upon commencement of the maintenance period.

5. Tournament Registrations

If you've pre-registered for any tournaments scheduled after 31st March 2024, those registrations will be refunded to your account. You will need to re-register for these tournaments after the maintenance has been completed post-02:00 IST (1st April 2024).

Should you be interested in participating in the WSOP Super Circuit Main Event [Day 1], please note that there are plenty of Day 1s running post-maintenance.

6. Ongoing Tournaments

If you are in an ongoing tournament when the maintenance begins, you will be logged out of your account and be blinded out. Hence, we highly recommend that you DO NOT play in any tournaments close to the maintenance time of 23:00 IST (31st March 2024). We will not be responsible for any losses incurred in this respect.

We apologize for any inconvenience these adjustments may cause and appreciate your understanding as we ensure compliance with regulatory requirements.

7. Balance Subjected to TDS

Your account balance will be subjected to TDS based on your net winnings during the fiscal year (1st April 2023 to 31st March 2024), and your player ledger will reset on 1st April 2024.

Any losses incurred in the current fiscal year will be disregarded in the next fiscal year.

All amounts carried forward to the next fiscal year (1st April 2024 to 31st March 2025) will be regarded as deposits for TDS calculation purposes and will not be taxable based on prevailing Indian taxation laws.

We outline several illustrations of how the TDS calculation will be applied during the ledger reset process:-

Scenario A

Your total balance as on 31 March is ₹10,000

Total deposited (inclusive of GST) is ₹1,000.

Net winnings are ₹9,000.

TDS will be applied at 30% on net winnings of ₹9,000. Amounts of ₹2,700 will be automatically deducted from your balance and remitted to the Indian tax authorities.

Your carry forward balance would be ₹7,300 and be treated as a Deposit in the next fiscal year on 1st April. This will not be subjected to any further GST.

Scenario B

Your total balance as on 31 March is ₹10,000

Total deposited (inclusive of GST) is ₹20,000.

Net winnings are nil.

No TDS will be deducted in this case and your carry forward balance of ₹10,000 will be treated as a Deposit in the next fiscal year on 1st April. This will not be subjected to any further GST.

Terms & Conditions

  1. Players must be aged 18 and above to participate.
  2. Natural8 India reserves the right to investigate any players suspected of fraudulent activity, and take any necessary action. In the event of multi-accounting, bonus hunting, or foul play, Natural8 India reserves the right to forfeit any prize amounts that have been paid along with any remaining cash balances, without prior notice.
  3. Natural8 India reserves the right to cancel or modify this offer at any time without prior notice, and at its sole and absolute discretion.
  4. This promotion is subject to the terms and conditions of the Natural8 India website.
  5. Natural8 India is an advocate of safer gaming. If you feel you might have a problem, do seek further advice or counselling. Please also refer to our Responsible Gaming page.