without tds fantasy app 2023

Without the TDS Fantasy app, you can still enjoy fantasy sports by exploring other fantasy platforms and websites. Here are some popular alternatives to the TDS Fantasy app:

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ESPN Fantasy Sports: ESPN offers a comprehensive fantasy sports platform covering various sports like football, basketball, baseball, and more. You can create or join leagues, customize settings, draft players, and compete against friends or other users.

Yahoo Fantasy Sports: Yahoo provides a well-known fantasy sports platform that supports a wide range of sports, including football, basketball, baseball, hockey, and more. It offers customizable leagues, live scoring, player news, and a user-friendly interface.

CBS Sports Fantasy: CBS Sports offers an extensive fantasy sports platform with leagues for football, basketball, baseball, hockey, and other popular sports. It provides customizable options, live scoring, expert analysis, and a mobile app for managing your teams on the go.

FanDuel: FanDuel is a leading daily fantasy sports (DFS) platform where you can participate in contests across various sports, including football, basketball, baseball, and more. It offers different contest formats, flexible entry fees, and the ability to compete against other users.

DraftKings: Similar to FanDuel, DraftKings is a popular daily fantasy sports platform that hosts contests for football, basketball, baseball, and other sports. It provides a range of contest options, flexible entry fees, and a user-friendly interface.

Sleeper: Sleeper is a fantasy sports platform primarily focused on fantasy football. It offers unique features like integrated chat, easy league customization, and a sleek mobile app experience.

NFL Fantasy: If you're specifically interested in fantasy football, the NFL's official fantasy platform is worth considering. It provides features like live scoring, player news, customizable leagues, and the ability to compete against other NFL fans.

These are just a few examples of fantasy sports platforms available without the TDS Fantasy app. You can explore these alternatives to find the one that best suits your preferences and sports of interest.

New TDS Law That Will Take Effect On April 1, 2023

All Real Money Gaming Apps are required to deduct tax at a rate of 30% from users' Net Winnings in accordance with the Finance Bill approved in 2023.

30% tax as TDS will be deducted from net winning at the time of withdrawal beginning on April 1, 2023.

TDS will be deducted from net winning as of March 31, 2024, if there were no withdrawals made over the whole financial year.

What is a new TDS law for fantasy app?

TDS is imposed on the year-end wallet balance by treating it as a withdrawal amount. The remaining balance will be carried over as a deposit balance to the coming financial year after TDS have been applied to the remaining balance (in accordance with policy). The carried forward balance will be regarded as an investment for the next year, and TDS will not be charged on that amount.

Prior to April 1, 2023, TDS was deducted at the game level whenever earnings exceeded 10K.

AFTER APRIL 1, if I win any money, say Rs. 11,000, NO TDS would be taken out when that money is credited to my withdrawal wallet. The entire amount of Rs. 11,000 will be deposited to the winning wallet. We shall only consider the net winning and the applicable TDS when the user tries to withdraw any money from their wallet.

We shall therefore only take TDS out when the running total of withdrawals exceeds the running total of deposits. There won't be any TDS if the user experiences a loss. So, the users will benefit from this.

What is Net Winning?

The difference between total money won and entry fees paid by a user is what is referred to as net winning.

Overall winnings – (Total Entry Amount – Cash Bonus/Discount) equals net winnings.

For Example-

suppose a user enters a tournament and plays 100 games total, paying Rs.1000 entry fee. If the player wins 2000 from these 100 games, the net winning is 2000 (winnings) - 1000 (entry fee) = 1000.

At the beginning of each financial year, the Net Winnings will be reset.

*Subject to Modification in Consequence of Notification of Rules Under Income Tax 1961.