Dream11 2 crore winner tax

Dream 11 Tips and Tricks: Dream11 is a popular fantasy sports app in India that allows users to create virtual teams for various sports such as cricket, football, basketball and kabaddi. Users can participate in cash competitions and win real money based on the performance of their virtual teams , Here is a guide on how to play dream 11, how to get first rank, and tips to build best team for dream 11. how to get first rank in dream11 1. Before selecting your team, do a thorough research on the players’ past performance, current form and pitch conditions. 2. Follow news and updates about player injuries, fitness and availability. 3. Be strategic while selecting your captain and vice-captain. Pick the players who have more chances to perform well in the match. 4. Join competitions with less participants as your chances of winning increase in such competitions. 5. Play multiple tournaments and diversify your team to increase your chances of winning. How to become the best team for Dream 11? 1. Follow the ratio of 7:4 while selecting players for your team. This means pick 7 players from the strong team and 4 players from the weak team. 2. Focus on picking all-rounders who can contribute with both batting and bowling. 3. Pick specialist bowlers who are expected to take wickets in the match. 4. Pick top-order batsmen who are expected to play long innings and score more runs. 5. Select players who have a good record in a particular format of the game (Test, ODI, T20). Dream 11 Te...

As we know "Under Section 194B of the Income Tax Act, 30 per cent tax is deducted on any prize money in excess of Rs 10,000 and other winnings from games, lotteries etc." But how about ≤ 10k winnings ? I won 1 Lakh, 10k, 10k, 10k in a match and got around 1 Lakh credited in my dream11 account for withdrawal. Dream11 deducted around 30% tax on 1 Lakh single contest winning, and not on 10k+10k+10k. Is that (10k+10k+10k) is taxable, and many other ≤10k winnings. Do we need to show in IT return ? I am trying to fetch last 1 year statement on dream11 app, but it shows error to generate because of too many transactions, only last 6 months statement got generated. So not possible to calculate amount credited in dream11, withdrawals can be found in bank statement. And Dream11 has not sent any TDS certificates on winnings greater than 10k. Has anyone got TDS certificate from dream11. And is there possibility of getting refund of TDS. No deduction, exemption, and even minimum tax slap is not allowed for income for lotteries! Hence if you have won even 5k, you have to pay 30%+cess on 5k So if I added 40k by any payment method and withdrawal total 50k in a year. I need to pay 30%+ tax on 50k irrespective of added amount. What is the difference in winning less or more than 10k in a single contest if we’re paying 30%+ in both cases. So if I added 40k by any payment method and withdrawal total 50k in a year. I need to pay 30%+ tax on 50k irrespective of added amount. What is the differen...

He said that he had been trying his luck since the last two years by creating fantasy teams in the IPL. “Becoming a millionaire overnight is like a dream. This will help us to overcome poverty as we belong to financially weak family. My mother is ailing and now I will able to get her treated,” he said. Videos are viral on social media in which people can be seen congratulating Waseem Raja. There is a wave of happiness in Raja’s village with the news of him becoming the winner in Dream11. Dream11 is an Indian fantasy sports platform that allows users to play fantasy cricket, hockey, football, kabaddi, and basketball. In April 2019, Dream11 became the first Indian gaming company to become a unicorn.

Table of Contents • • • • How the government taxes winnings from fantasy sports apps like Dream11 and Vision11 • TDS is applicable at the time of withdrawal • 30% TDS is applicable on any positive net winnings at the time of withdrawal • TDS is also applicable at the end of financial year on year end wallet balance by considering it as a withdrawal amount. Post applying TDS on the remaining balance (as per policy), the remaining amount will be carried forward to the next financial year as deposit balance. Carried forward balance will be considered as investment for next year and TDS not applicable for that amount. Here, net winnings = Total Withdrawals – Total Deposits (in a financial year). Apr 1 to Mar 31 duration is considered a financial year. dream11 tax on 10,000 Find below a few scenarios to understand it better with examples. Scenario 1: If your net winnings (including the withdrawal amount) is more than 0, then 30% TDS will be deducted on the net winnings at the time of withdrawal. Dream11 Tax deduction Example. In the above scenario, if you want to withdraw 7,000, then your net winnings for the financial year will be 2,000 (5,000 + 7,000 – 10,000). So, 30% TDS is applicable on 2,000 =7600. Post deducting 7600 TDS, the remaining withdrawal amount of 6,400 will be credited to your bank account. Total withdrawals in the financial year (A) = 5,000 Total deposits in the financial year (B) = 10,000 Scenario 2: If you have paid TDS in previous withdrawals, then no TDS i...

Dream11 Winner List 2023 | TATA IPL 2023 • • April 14, 2023 • 0 Today breaking news who win Dream11 Mega Winner Dream11 Winner List 2023 | TATA IPL 2023 full details inform you keep me support and comment’s your opinion. today win dream11 winner list . Dream11 1 crore winner list 2023 this post top 6 winner list introduce know who won this mega prize, Dream11 Tata ipl 2023 winner here • Dream11 1 crore winner list 2023 [IPL] Name – KANHAIYA PASWAN Place – Bihar Rank – 1st Match – KKR vs RCB [IPL] Date – 6 april 2023 Profile Name – MUKESHP MISFITS 30636 Winning amount – 2 crore Contest amount – 55 crore Winner Highest Points – 1037 • Name – MOHD SAYYYUB MOHD HAROON KHAN Place – Maharashtra Rank – 1st Match – RR vs PBKS [IPL] Date – 5 April Profile Name – SAYYUBK DREAMTEAM11 Winning amount – 2 crore Contest amount – 54 crore Winner Highest Points – 889 • Name – BHAGWAM SINGH RATHORE Place – Maharashtra Rank – 1st Match – SRH vs RR Date – 2 april 2023 Profile Name – Naruka Kings XI Winning amount – 1.5 crore Contest amount – 45 crore Winner Highest Points – 956 • Name – ABDULLAH Place – Uttar pradesh Rank – 1st Match – LSG vs DC Date – 1 april 2023 Profile Name – Mohd Amzad 786 Winning amount – 1 crore Contest amount – 35 crore Winner Highest Points -1004.5 • Name – SUKHEN DAS Place – West Bengal Rank – 1st Match – GT vs CSK (IPL) Date – 31 march 2023 Profile Name – Sukhen K Winning amount – 1.5 crore Contest amount – 50 crore Winner Highest Points – 851.5 • Name – MOHD IMROJ...

Online games that reward you with money has become a favourite past time for many. If you played poker or rummy on Diwali or are a Dream11 team player you must know the money you win is not entirely yours. The prize money is your income from other sources that will attract taxes just like your primary income. The prize money contestants win in Kaun Banega Crorepati or the cashbacks you receive in online shopping are also taxed. Â "The provisions of Section 115BB of Income Tax Act, 1961 mandates a flat tax rate of 30 per cent (plus surcharge and cess) on such income, without any deduction or exemption or slab rate," says Gouri Puri, Partner, Shardul Amarchand Mangaldas & Co. TDS applicability The winner doesn't have to worry about paying taxes. As per Section 194B, the organisers are responsible for deducting TDS mandatorily where the winnings go above Rs 10,000. All taxpayers have to do is include the prize money under 'income from other sources' while filing the return and submit the TDS certificate as proof that they have paid all the tax due against the prize money. If the organiser has not deducted the TDS, it is the prize winner's responsibility to pay advance tax on the same, even if you win less than Rs 10,000. For example, on Rs 1 lakh prize money in a game show, in all likelihood, the organiser will deduct the flat rate of TDS at 30 per cent (effective rate including cess 31.2 per cent) and you will receive Rs 68,800. "Rs 31,200 should be deducted as TDS, if not d...

As the breathtaking cricketing actions continues in the Indian Premier League, an auto driver from Barwani, Madhya Pradesh, who invested INR 49 on popular cricket and sports fantasy app Dream11, became a millionaire overnight by winning INR 1.5 crore as the first prize for the grand contest. Shahabuddin Mansuri, the man who won the first prize, revealed during an interview that he had been playing fantasy cricket from the past couple of years in an attempt to try his luck on winning the first prize. On April 2, Sunday during a match between Kolkata and Punjab he created a team which led to winning the first prize, according to He also said that he is currently living in a rented house and plans on building his own using the winnings from Dream11. Later on, with the remaining amount, Mansuri plans to start his own business. Of the INR 1.5 crore prize money, Shahabuddin has already taken INR 20 lakh out of his app wallet. Now as per the norms for Tax Deductible at Source (TDS) on online gaming apps, Mansuri will have to pay 31.2% as tax on his withdrawals. This specifies that out of INR 20 lakh, a total of over INR 6 lakh is deducted as tax for Shahabuddin. The change in TDS for online gaming was Man from Kolhapur, Maharashtra won INR 1 crore Previously, in

Table of Contents • • • • How the government taxes winnings from fantasy sports apps like Dream11 and Vision11 • TDS is applicable at the time of withdrawal • 30% TDS is applicable on any positive net winnings at the time of withdrawal • TDS is also applicable at the end of financial year on year end wallet balance by considering it as a withdrawal amount. Post applying TDS on the remaining balance (as per policy), the remaining amount will be carried forward to the next financial year as deposit balance. Carried forward balance will be considered as investment for next year and TDS not applicable for that amount. Here, net winnings = Total Withdrawals – Total Deposits (in a financial year). Apr 1 to Mar 31 duration is considered a financial year. dream11 tax on 10,000 Find below a few scenarios to understand it better with examples. Scenario 1: If your net winnings (including the withdrawal amount) is more than 0, then 30% TDS will be deducted on the net winnings at the time of withdrawal. Dream11 Tax deduction Example. In the above scenario, if you want to withdraw 7,000, then your net winnings for the financial year will be 2,000 (5,000 + 7,000 – 10,000). So, 30% TDS is applicable on 2,000 =7600. Post deducting 7600 TDS, the remaining withdrawal amount of 6,400 will be credited to your bank account. Total withdrawals in the financial year (A) = 5,000 Total deposits in the financial year (B) = 10,000 Scenario 2: If you have paid TDS in previous withdrawals, then no TDS i...

Dream11 Winner List 2023 | TATA IPL 2023 • • April 14, 2023 • 0 Today breaking news who win Dream11 Mega Winner Dream11 Winner List 2023 | TATA IPL 2023 full details inform you keep me support and comment’s your opinion. today win dream11 winner list . Dream11 1 crore winner list 2023 this post top 6 winner list introduce know who won this mega prize, Dream11 Tata ipl 2023 winner here • Dream11 1 crore winner list 2023 [IPL] Name – KANHAIYA PASWAN Place – Bihar Rank – 1st Match – KKR vs RCB [IPL] Date – 6 april 2023 Profile Name – MUKESHP MISFITS 30636 Winning amount – 2 crore Contest amount – 55 crore Winner Highest Points – 1037 • Name – MOHD SAYYYUB MOHD HAROON KHAN Place – Maharashtra Rank – 1st Match – RR vs PBKS [IPL] Date – 5 April Profile Name – SAYYUBK DREAMTEAM11 Winning amount – 2 crore Contest amount – 54 crore Winner Highest Points – 889 • Name – BHAGWAM SINGH RATHORE Place – Maharashtra Rank – 1st Match – SRH vs RR Date – 2 april 2023 Profile Name – Naruka Kings XI Winning amount – 1.5 crore Contest amount – 45 crore Winner Highest Points – 956 • Name – ABDULLAH Place – Uttar pradesh Rank – 1st Match – LSG vs DC Date – 1 april 2023 Profile Name – Mohd Amzad 786 Winning amount – 1 crore Contest amount – 35 crore Winner Highest Points -1004.5 • Name – SUKHEN DAS Place – West Bengal Rank – 1st Match – GT vs CSK (IPL) Date – 31 march 2023 Profile Name – Sukhen K Winning amount – 1.5 crore Contest amount – 50 crore Winner Highest Points – 851.5 • Name – MOHD IMROJ...

He said that he had been trying his luck since the last two years by creating fantasy teams in the IPL. “Becoming a millionaire overnight is like a dream. This will help us to overcome poverty as we belong to financially weak family. My mother is ailing and now I will able to get her treated,” he said. Videos are viral on social media in which people can be seen congratulating Waseem Raja. There is a wave of happiness in Raja’s village with the news of him becoming the winner in Dream11. Dream11 is an Indian fantasy sports platform that allows users to play fantasy cricket, hockey, football, kabaddi, and basketball. In April 2019, Dream11 became the first Indian gaming company to become a unicorn.