One of our aims at GoPoker.in is to make sure that withdrawing of funds is made easy and less tedious for players. We have made depositing to players accounts as easy as possible, so also we have made withdrawal of funds from players’ accounts an easy task.
Please check out our withdrawals policy page to learn more about how withdrawals are being processed.
We are aware that we have different players who have different needs to meet, so also we have enabled various payment methods to suit our player’s needs. Please take note that the frequency of your transactions and your balance greatly affects the amount you can withdraw from your player account.
GoPoker.in also reserves the right to carryout extra eligibility criteria to regulate the options available for players at any point in time.
At GoPoker.in, we offer players an opportunity to either withdraw through through direct wire transfers or receive checks depending on their address. The wire transfers happen within 72 hours and the cheque withdrawals will be issued out for processing in the next 72 hours and receiving the check might take long, sometimes up to 15 business days.
Your check will be sent to the details you provided at the time you make your request for withdrawing your funds. So remember to fill in your account with your full name and mailing address because that’s where your checkwill be sent to.
You can check out our cheque withdrawal page or send us an email if you need more information on how to complete a cheque withdrawal request.
You will receive a notification email from GoPoker.in for confirmation of every transaction you made with your account. Please check your confirmation email to confirm how your withdrawals were processed after a transaction.
Additional details may be requested for you to complete your withdrawal process in certain cases.
As per Government of India regulations, gopoker levies TDS on all realized winnings above Rs 10000.
Example : Player X deposits Rs 20000 in GoPoker real money chips. This Rs 20000 will be player X’s buy-in amount. Assuming Player X plays and takes his Real Money chip balance to 35000 chips playing on the tables. His unrealized winning would be = 35000 – 20000 = Rs 15000. Let’s assume he withdraws all his balance ie Rs 35000. In this case the winning in more than Rs 10000 and tax @30% on the complete winning amount (i.e. Rs 15000) will be levied if the player choses to withdraw and realize the full amount. Hence, Player X will have a TDS of Rs 4500 (30% of Rs 15000).
Alternate situation 1 : Let’s assume the player withdraws Rs 10000 in the above example. No tax will be deducted as the he is still withdrawing less than what he deposited. Now the player’s Real Money chip balance is 25000. Suppose, after this, the player loses Rs 10000 on the tables, his balance will be 15000. Now if he withdraws Rs 15000, the TDS will be calculated on the basis of this formula
TDS= 30% of [(total withdrawals – total deposits -10000)]
In this case:
TDS = 30%[(10000+15000)-(20000)-10000]
or TDS = 30% of -5000
or TDS = 0 since the withdrawal only consists of winnings of Rs 5000 which is less than 10000
Real Money chips can be left as it is till 31st March of each year, after which GoPoker will automatically convert all chips to Real money and deduct tax accordingly based on individual player winnings. This is done as per Government of India regulations to calculate winnings of each player for the complete financial year and issue TDS Form 16.
Tips to minimize TDS deduction
If your conversion of GoPoker chips to real money is less than 10000, no TDS will be deducted.