1) TDS will only be deducted on net winnings (Withdrawals till date – Deposits till date) from withdrawals during the financial year in excess of Rs. 10,000. It is calculated at the time of the withdrawal.
2) Once a player reaches Level 4 - Champion, he or she is eligible for a TDS refund. As you level up you will receive more benefits as a TDS refund.
a. For Champion – FTR Poker will refund the TDS amount in the form of Bonus Money on 30% of net winnings of Rs. 15L per month in your account.
b. For Legend – FTR Poker will bear the TDS for all Elite players for a maximum limit of 30L net winnings per month.
3) Spartan Poker/FTR Poker is a website owned and managed by Quadrific Media Pvt Ltd, cashouts for Spartan Poker/FTR will be made by Quadrific Media Pvt Ltd.
4) Withdrawals on Spartan Poker/FTR Poker are subject to withholding tax (TDS) as per applicable rates (i.e. 30% currently) which is submitted to the Indian tax authorities under section 194B of the Income Tax Act.
5) A player will be eligible for the TDS benefits only if he/she maintains the player level at the time of withdrawal
6) The VIP Program is offered as a discount by the Company, shall also be governed by the Platform’s Standard Terms and Conditions for DISCOUNT/ BONUS SCHEMES as available at Discount and Bonus Terms.
This is Discount Scheme and may involve issuance of credit notes and/ or discounts accruing basis future games.
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