TDS and Dual Wallet

Dual wallet

A23 Poker will have a dual wallet system where users will have to transfer money to the Poker wallet from the A23 wallet.

For poker to A23 wallet transfers, only full conversions will be allowed for calculating TDS.

TDS will be calculated on the net winnings accumulated since the last successful transfer from Poker to A23.

TDS calculation

We follow the Poker cycle System for calculating the TDS, & TDS is applicable only on net winnings when net winnings are greater than 10K.

  • Poker cycle - TDS would be calculated for every transfer from Poker to A23 balance. If Net winnings are greater than 10K , a tax of 31.2% will be deducted on net winnings
  • Rake & GST are calculated at every game/tourney end
  • TDS is calculated during the time of conversion from Poker wallet to Platform wallet
  • Conversion from Poker wallet to Platform wallet can only be done manually by the user

Net Winnings = Is the difference between the total Poker wallet balance and the transferred amount from A23 wallet to poker wallet since the last transfer.

For transfers where TDS is applicable KYC verification is mandatory.

TDS Formula

TDS will be charged for transfers where the net winnings are more than Rs.10,000. The following formula will be applied for calculating TDS.

TDS = X% * (Net Winnings) , if Net Winnings >=10,000

TDS is deducted for the net winnings incurred between 2 transfers and not on cumulative transfers.

TDS examples

Let us take 2 cases where the wallet balance is Rs.20,000 for both the cases, but net winnings for the 1st case is Rs. 12,000 and the second case is Rs. 9,500.

  • For the first case net-winnings = 12,000, so TDS will be applicable. TDS deducted for this transfer would be 12000*31.2% = Rs.3744
  • For Net Winnings =9,500, TDS will not be applicable.

Fraud checks at Poker to A23 wallet

Cases of unfair and fraudulent gameplay including but not limited to collusion, chip dumping, misuse of chat for discussing hands, multi-accounting and using of bots will not be tolerated and be strictly dealt with in accordance to our security policies.

Additional checks will be performed when the user places a Poker to A23 wallet transfer, to mitigate fraud and collusion

  • If a user fails any one of these checks, then the transfer will be put on hold and the player's playing patterns and transactions will be further scrutinized by A23
  • If the transfer moves on to hold, the user will have a provision to cancel the request and the amount will be credited back to the Poker wallet
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