Your 30% TDS will be paid by us. This means VirtualKart is now TDS-Free*.
How it works ?
For Example
If you withdraw ₹1000 and your tax liability is 30%, you receive ₹700 in your bank account and ₹300 is deducted as TDS and paid to the government.
- Suppose you earn a profit of ₹1000 by participating in a contest on VirtualKart and request a withdrawal.
- When you withdraw ₹1000 and your TDS liability is 30%, you will receive ₹700 in your bank account, and ₹300 TDS will be deposited with the government as per tax regulations.
- The TDS refund reward is granted only for the first three withdrawals each month. However, these three withdrawals must be made on a Monday, Wednesday, or Friday.
- If a withdrawal is made on any other day (outside of Monday, Wednesday, or Friday), that withdrawal will not be counted toward the eligible 3 refund withdrawals — and the user will lose eligibility for the TDS refund on that transaction.
- Only withdrawals made on the designated days (Monday, Wednesday, Friday) will be counted in the first-three eligible withdrawal count for TDS refund purposes.
- TDS refund for eligible withdrawals will be credited directly into your Rewards Wallet.
- This means TDS will be deducted as per law but will be credited back to your VirtualKart account as Rewards.
- After the first 3 eligible withdrawals, no Rewards refund will be provided and TDS will be applied normally as per applicable regulations.
- Rewards credited as a TDS refund must be used within 14 days, after which they will automatically expire.
- VirtualKart reserves the right to modify, update, terminate or (REVERSE) this offer at any time without prior notice.
- Rewards refund will not be considered or adjusted toward TDS calculation or tax deduction at the end of the financial year.
