Do I have to pay taxes when I withdraw winnings to my bank account?
In an event, the Winning amount crosses the mark of ₹10,000, a tax of 30% and 1.2% cess that means total 31.2% is imposed on the amount which is paid off by 11Challengers
by deducting the tax amount from the winnings. However, the users are provided TDS certificates in accordance to the Income Tax Act 1961.
In addition, the users shall be responsible for payment of any other applicable tax, including (but not limited to), income tax, gift tax, etc.
in respect of their winnings.