Rummy Cash Withdrawals

Online rummy players enjoy this game at Taj Rummy for various reasons and possibly the most important of these are the instant cash withdrawals. Players who join rummy cash games regularly and win cash prizes consider this to be the best rummy app and love the withdrawal facility through which they can deposit their winnings into their bank accounts; also known as an “immediate” or an “instant withdrawal”.

As a new player you get tons of free practice games to enjoy without depositing any money. When you deposit money to play rummy for cash games however, you can be assured about playing in a secure and legit environment while earning cash in your favorite rummy tables, if you win the games you play.

To sign up and play online cash rummy games, all you need to do is download and install this real money rummy app and register with your phone number.

Rummy Instant Cash Withdrawals at Taj Rummy

Availing instant withdrawals from this rummy app is just as smooth and easy as depositing cash in your rummy accounts. The process is very simple and to be eligible for withdrawals you will need to first ensure that the following two criteria are met:

1. Complete your KYC formalities by updating your Aadhaar Card and PAN Card (mandatory) details.
2. Provide your identification through a valid phone number and email address

Step 1: Click on the “Wallet” icon seen at the bottom of the screen. Alternately, select the “Withdrawal” icon in the menu

Step 2: Upon entering the Wallet you get the Withdrawal Cash Balance option. Click on “Withdraw” and enter the amount.

Note: The minimum withdrawal amount is Rs. 100

Step 3: Remember, your KYC is mandatory for processing the withdrawal so if you haven’t already completed this procedure while setting up your rummy account then you can do it at this stage. Also, update your personal information, such as email address and phone number for verification.

Step 4: Tap the ‘Withdraw Now” icon and select your bank name and enter your bank account number for the cash transfer.

Step 5: Enter the OTP received on your phone and your withdrawal will be processed.

Step 6: In case your withdrawal moves into the manual bucket which happens due to bank delay(s) or internal check(s), you may check your transactions tab to track your withdrawal’s status/ progress.

Once your withdrawal has been completed successfully you should receive an alert from your bank too.

Rules for Cash Withdrawal (as per the RBI and IT Department)

1. KYC verification is mandated by the Reserve Bank of India and it includes proof of identity for withdrawing your cash winnings from Taj Rummy and transferring it to your bank account.
2. Cash rewards earned at this online rummy app may be in the form of cash bonus, real cash, rewards, incentives or promotional gifts.
3. Cash rewards for all the games, tournaments and/or promotions that you win will be as per those displayed at this site or app and according to the rules applicable at the time of registration.

What is the TDS policy?

From 1st April'23, Income Tax department has introduced a new TDS section for Winnings from online games i.e., 194BA.

The net winnings are calculated at the time, when you place a request for withdrawal (or at the year-end on the closing balance). TDS is calculated @ 30% on the net winnings comprising of Withdrawal/Closing Balance at year-end.

Important points:

1. TDS will be deducted at the time of withdrawal
2. TDS will be applicable only on net winnings during withdrawals and not deposits
3. Your deposit and withdrawal ledger will become 0 at 00:00 hours on 1st April of every financial year (FY)
4. Net winnings = [Total withdrawals in FY - (Total deposits in FY + Net winnings which have incurred TDS during the FY + Opening balance)]

How is TDS calculated on Taj Rummy?

The TDS will be deducted at the time of withdrawal and at the year end Financial Year (FY) is from 1st April to 31st March every year Your deposit and withdrawal ledger will become 0 at 00:00 hours on 1st April of every financial year. Net winnings = [Total withdrawals in FY - (Total deposits in FY + Net winnings which have incurred TDS during the FY + Opening balance as of 1st April 00:00 hours)] If your net winnings at the time of making a withdrawal is positive (greater than 0), 30% TDS will be applicable on any withdrawn amount.

Let us understand with a few examples:

Scenario 1

On 1st April, you have Rs. 7,000 in your winnings balance and Rs. 8,000 in deposit balance. Now you want to withdraw Rs. 7,000 on 3rd April. In such a situation, no TDS will be applied. The calculation will be as below:

Scenario 2

Now consider that you deposit Rs. 3,000 in the current FY. Your opening deposit balance was Rs. 8,000 and you have already withdrawn Rs. 7,000. Now you want to withdraw Rs. 5,000 more. The calculation will be as below:

In the above case, you could have withdrawn Rs. 4,000 without tax instead of Rs. 5,000. However, since you are withdrawing Rs. 5,000, Rs. 300 will be deducted from the remaining Rs. 1,000 and you will receive Rs. 4,700 in your bank account.

Scenario 3

If TDS has been applied to your previous withdrawals, then no TDS is applicable on withdrawals till your net winnings exceed the amount for which you have already paid TDS.

If you try to withdraw Rs. 5,500, no TDS will be deducted. You can withdraw up to Rs. 6,000 without any TDS.

However, if you wish to withdraw Rs. 10,000, TDS will be charged on the remaining Rs. 4,000 @ 30% which is Rs. 1,200. Post it, you will receive Rs. 8,800 in your bank account.

What happens if extra TDS has been deducted in advance during an FY?

The new amendment in TDS on gaming platforms has actually simplified the process. The computation is processed the same as any income tax, except that the TDS levied on winnings from online gaming is 30 percent.

As players will be paying TDS on withdrawals throughout the year and the final TDS for the financial year will be assessed at 23:59 on 31st March, depending on the total amount remaining in the players’ accounts some further deduction may need to be made minus the deposit amounts.

If any excess TDS has been deducted then players may need to file an ITR request for Claims and the total TDS deducted can be adjusted against the winnings liable for tax plus deposits.

Will Taj Rummy provide the TDS Certificate?

As required by income tax laws, all winnings are required to be reported by players under the heading of ‘Income from other sources’ while filing their income tax returns (ITR) for the financial year.

We deduct TDS during the withdrawal process (through the year or at the year-end) and deposit the same with the Government. For this reason players are required to provide their PAN Card and the linked Aadhar Card. The TDS deduction details can be seen in every player’s individual 26AS on the IT website, which is updated on a quarterly basis.

Frequently Asked Questions

How to Play Online Rummy Games

If you have never played online rummy then here are some easy to follow rules which will give you a quick primer:

1. Rummy is played with two decks of 52 cards each, with two Jokers included in each deck this makes up a total of 104 cards.
2. A deck is divided into four ranks or suits: spade, diamond, club and heart. You will be dealt with a hand of 13 cards which you must arrange into combinations of valid sequences and sets. The aim is to be the first to create one pure sequence while the rest can be created using a printed joker as well as the declared wild card.
3. The highest value set is of 3 Aces which could potentially be a game winner. A sequence made up of minimum 3 cards consists of unbroken number cards from 2 to 10; a high value sequence consists of a jack, queen, king and possibly Ace.