Yes, there is. You can place up to 3 withdrawal requests a day, not exceeding a total value of Rs. 25000. Each withdrawal request can be for a minimum of Rs. 50 and a maximum of Rs. 10000.
In case you need any further help, contact us here.
My Balance
Withdrawls
- Is there a daily withdrawal limit?
- Can I use someone else’s bank details on my Nifty10 account?
It is not recommonded to use someone's bank details. You can verify ONLY your own bank account. If you have one, verify it now.
PS: If you don’t have a bank account, your winnings will keep accumulating in your Nifty10 account and you can use them to join contests.
In case you need any further help, contact us here.
- How do I withdraw my Discount Bonus?
You can use the Discount Bonus to join more contests and increase your winnings, but you can’t withdraw it.
In case you need any further help, contact us here.
- Why is the amount credited in my bank account different from my withdrawal amount?
According to the new Govt. Tax (TDS) law, effective 1st April 2023, TDS is deducted at 30% of your net winnings, at the time of withdrawal.
E.g, if you place a withdrawal of Rs. 100, an amount of Rs. 30 (i.e. 30% of Rs. 100) will be deducted as TDS and Rs. 70 will be credited to your verified bank account.
Please note: TDS is applicable only on the taxable amount.
In case you need any further help, contact us here.
Government Notification Bill.pdf
- Do I have to pay taxes when I withdraw my winnings on Nifty10?
Yes. As per the new Govt. Tax (TDS) law, effective 1st April 2023, TDS will be deducted at 30% of your taxable amount at the time of withdrawal.
Taxable amount is defined as the difference between your withdrawals and deposits.
Here’s how it’s calculated:
Note: A, B and D are calculated for this FY i.e. from 1 April 2023 onwards.
In case you need any further help, you can contact us here.
- My withdrawal request is cancelled, what should I do now?
A withdrawal request is usually cancelled if:
1. There’s an issue with your verified bank account
2. Due to a GamePlay Violation
Note: A cancellation reason will also be mentioned against the cancelled transaction.
If the cancellation reasons are incorrect IFSC, name mismatch or incorrect account number.
Please verify your bank account with the correct details and place a fresh withdrawal request. Just ensure your bank IFSC code is part of the updated IFSC list.If the cancellation reason is ‘GamePlay Violation Detected’, we request you to follow the GamePlay rules to avoid such cancellation in future.
In case you still need help, contact us here.
- How can I check the status of my withdrawal?
1. Head to the profile picture on the top left-hand side of the app, Click ‘My Balance’.
2. Go to the ‘My Transactions’ panel and check under the ‘Withdrawals’ tab
3. Each withdrawal request you place generates a unique withdrawal ID prefixed by ‘UW’.
4. And, you can check the status of all these withdrawal transactions for the last 6 months.
5. Details beyond the last 6 months can be downloaded via the ‘Download’ icon on the page.
In case you need any further help, contact us here.
- I’ve placed a withdrawal request, when will I get my money?
A successfully processed withdrawal request via IMPS should get credited almost instantly or within 3 working days. NEFT should get credited within 3 working days, under ‘IDBI BANK’.
PS: If your withdrawal request is processed but not credited to your verified bank account within the above timeframe, please share a PDF copy of your bank statement from the date of withdrawal with us. We’ll check this for you.
Simply click here to contact us .
- How do I withdraw my winnings?
Tap the profile picture > My Balance > Withdraw > Enter the amount you wish to withdraw.
To place a withdrawal request, make sure:
Your PAN and bank details are verified
Your winning balance is Rs. 50 or more.
Here are a few important things to keep in mind when you place a withdrawal request:
You can place up to 3 withdrawal requests a day
You will see the break up of the TDS (if applicable) and the amount post taxes which will be credited to your bank account
Each request can be of a minimum of Rs. 50 and a maximum of Rs. 1 Crore
Accordingly, a maximum withdrawal of Rs. 3 crores can be placed each day, across 3 transactions
Your withdrawal can take up to 3 working days to get credited to the verified bank account.
In case you need any further help, contact us here.
Deposits
- My amount was not added to my Nifty10 account, will it be auto-refunded?
In case your deposit transaction fails, the amount will be auto-credited to your source account as per the timelines below. If the refund is not credited to your source account within this time frame, please contact your bank for more details.
Auto refund time frame:
Wallets : Within 2 Hours
Net Banking : Within 2-3 Working Days
UPI : Within 24 Hours
Debit/ Credit Cards : Within 2-3 Working Days
PS: Working days exclude weekends and bank holidays.
In case you need any further help, contact us here.
- How can I get a refund of my deposit?
Maintaining an unutilized deposit balance in your Nifty10 account makes it easy to join contests.
However, if you’d like to have any unutilized deposit refunded, write to us here.
Your deposit may be refunded if it is not linked to any offers or promo balance such as discount bonus on NiftyCoins.
Also, deposit refunds are subject to the deduction of applicable GST. Any taxes deducted at the time of deposit are non-refundable and only the balance amount without GST will be refunded.
In case you need any further help, contact us here.
- How do I manage PhonePe / Paytm wallets on Nifty10?
To link wallets, Head to the Side Navigation Menu > My Balance > Add > Wallets and tap on ‘Link Account’ to link your Paytm/ PhonePe wallets. Follow the onscreen instructions, authenticate using OTP and done.
PS: Your Paytm/ PhonePe wallet should be linked to the same mobile number you’ve used on Nifty10.
In case you need any further help, contact us here.
- Can I link more than one Paytm account on Nifty10?
No, You can link only one Paytm account on Nifty10.
In case you need any further help, contact us here.
- How do I add cash to my Nifty10 account?
You can add cash through either of the following two options on your Nifty10 homepage:
Profile Picture on the top left-hand side corner or Wallet icon on the top right hand side corner.
Next,
1. Click on Add Cash
2. Enter the ‘Amount to add’
3. Select your preferred payment method from UPI, credit or debit cards (excluding American Express or cards issued outside of India), wallets and net
banking.4. Follow the on-screen instructions to complete your payment and done!
The deposit money can be checked in the “My Recent Transactions” section.
PS:
If the cash hasn’t been added to your account within 24 hours, the amount will be auto-refunded to the source account
Effective 1 October 2023, GST will be calculated at the rate of 28% on amount deposited in your Nifty10 accountIn case you need any further help, contact us here.
- How do I manage my cards on Nifty10?
To add a card: My Balance > Add Cash > Enter the amount you wish to add > Add New Card > Enter Card Details > Pay
To remove a card: My Balance > Manage Payments > Select and remove the card you wish to remove > Delete Card.
PS: There is no limit to the number of cards you can save in your Nifty10 account.
In case you need any further help, contact us here.
- How do I add cash via UPI?
Side Navigation Menu > My Balance > Add Cash > Amount to add > Add
1. Tap UPI and select your preferred payment gateway (GPay, PhonePe, Paytm, etc.)
2. Follow the on-screen instructions to complete your payment OR
3. Alternatively, you can enter your UPI ID directly in the box below the UPI options. This will redirect you to your bank’s website to complete the transaction.
PS: Direct transactions made to any VPA will not get added to your Nifty10 app.
In case you need any further help, contact us here.
TDS on Winnings
- Is there any TDS if I don’t withdraw money in the entire financial year?
The taxable amount at the end of the financial year (31 March) will be subject to Govt. Tax (TDS) at 30%. TDS will be deducted from your closing balance.
Note: A, B, D & E are calculated for the current FY i.e. 1 April 2023 onwards.
In case you need any further help, contact us here.
- What if I pay extra TDS?
Don’t worry; you can claim your TDS refund when filing your Income Tax Returns (ITR) for that financial year.
Remember to download your quarterly TDS certificates from the Nifty10 app once they are published by following these steps:
1. Go to the profile icon.
2. Select “My balance.”
3. Click on “My Transactions.”
4. Click on the download icon located at the top right corner of the screen.
5. Select the TDS certificate option.
6. Click on “Send to Email.”If you need any further help, contact us here.
- How can I check all transactions and TDS-related details?
Go to My Balance ➡️ My Transactions ➡️ Others
Click on the transaction for which you want to see the details.
You can check out the detailed TDS breakup for each withdrawal.
You can also download the quarterly TDS certificate here once it is published.
In case you need any further help, contact us here.
- When will I get my TDS certificate?
Once you have verified your PAN on your Nifty10 account, you can email the TDS certificate to your verified email ID via your Nifty10 app.
For this, go to:
Profile pic>> My Balance>> My Transactions>> Download icon (top right-hand side corner)>> TDS certificate.
If TDS has been deducted in a quarter, the respective TDS certificate link will be enabled. Simply check the box next to the TDS certificate and then click ‘Send to email’.
For the current FY, the TDS certificate will be available as per the following schedule:
Winning month Timeframe to receive TDS
Apr’23 to Jun’23 after 31st Jan’24
Jul’23 to Sep’23 after 31st Jan’24
Oct’23 to Dec’23 after 23rd Feb’24
Jan’24 to Mar’24 after 31st Jul’24In case you need any further help, contact us here.
- How is TDS calculated?
As per the new Govt. Tax (TDS) law effective 1 April 2023, TDS will be deducted at 30% of your taxable amount (i.e. net winnings) at the time of withdrawal.
Taxable amount is defined as the difference between your withdrawals and deposits in the FY. Here's how it is calculated.
Note: A, B & D are calculated for the current FY i.e. from 1 April 2023.
In case you need any further help, contact us here. - How do I download my TDS statement?
To obtain your TDS statements, please follow these steps:
Go to the profile icon.
Select "My balance."
Click on "My Transactions."
Click on the download icon located at the top right corner of the screen.
Go to the "TDS statement".
Select the Financial year.
Click on "Send to Email."
Please note: The TDS statement might take a few minutes to be forwarded to your Email ID.
If you need any further help, contact us here. - What is TDS deduction on 31 Mar, 2024?
As per amendments to the Income Tax Act that came into effect on 1 April, 2023, Govt Taxes (TDS) are applicable on your Net Winnings.
Hence, TDS applicable on your Net Winnings for the Financial Year 2023-24 (1 April 2023 to 31 March 2024) will be automatically deducted from your Nifty10 account on 31 March 2024, 11:59 PM.
How will it be calculated?
Your Taxable Amount (Net Winnings) = A – B – C – E + D
Where
A = Total withdrawals in the FY
B = Total deposits in the FY
C = Opening balance (Unused Deposits + Winnings) at the beginning of FY
E = Amount on which TDS has been deducted in the FY
D = Closing Balance (Current Balance on 31 March, 2024, including Unused Deposits and Winnings)For more details, click here.
For any doubts, feel free to write to us .
- Is TDS applied if I have net losses?
No TDS will be applicable in case of net losses at the time of withdrawal or at the end of the financial year.
In case you need any further help, contact us here.
- Is there any threshold amount above which the TDS will be deducted?
No, TDS at 30% will be deducted on net winnings on every withdrawal amount or on net winnings at the end of every financial year, effective 1st April 2023.
In case you need any further help, contact us here.
- Will my account balance, held till 31 March 2023, also get affected?
No. Don’t worry; your account balance holdings before 1 April 2023 will not incur a TDS deduction as per the new update.
In case you need any further help, contact us here.
- What is the difference between the calculation of taxable amount before and after 1 May 2023?
Tax deduction has been updated to make it easier for you.
Here’s how net winnings were calculated earlier, i.e. from 1 April 2023 to 30 April 2023.
Taxable Amount (Net Winnings) = Total winnings – (Total Entry – Discount Bonus/ Discount)
Effective 1 May 2023, the taxable amount is calculated as follows:
Here’s an example to help you understand the changes.
Let’s see how this would affect your withdrawals as compared to the old scheme (1 April – 30 April) if you were to withdraw this Rs. 20000 in 3 parts, where Rs. 7000 is the taxable amount.
In case you need any further help, contact us here.
GST (Govt. Tax) on Deposits
- How can I check the GST deducted so far?
The Government of India has implemented a change in its taxation laws, where GST will now be charged at the rate of 28% on the amount a user deposits.
This change took effect from 1 October 2023.
To view your GST deductions since then,
Navigate to your profile picture at the top left.
Click on ‘My Balance’ and proceed to ‘My Transactions’.
Download the transaction history by clicking the download icon at the top right
The transaction history will be emailed to the email ID updated on your Nifty10 accountThis will give you the deposit-wise GST deductions and the resulting account balance. Additionally, get insights into the Discount Points awarded for each deposit since October 1 2023.
In case you need any further help, contact us here.
- How is the entry amount deducted after the GST changes?
30% of any Contest Entry will be deducted from your Discount Points balance after all other available discounts are applied.
Remember: Discount Points are valid for 90 days from the date of credit and cannot be withdrawn.
In case you need any further help, contact us here.
- How is GST calculated and applied?
Effective October 1, 2023, Nifty10 has changed how deposits work to comply with the new 28% Government Tax (GST).
GST will now be applicable on deposits.
But don’t worry; you can still join contests with the entire amount you add.
For example, if you add Rs. 100, you will be able to play for the full Rs. 100.
What changes when you add cash?
Calculate your next deposit:
In case you need any further help, contact us here.
Winnings
- Is tax deducted on winnings?
No! Your winnings will be credited as-is.
As per the new Govt. Tax (TDS) law, effective 1st April 2023, TDS will be deducted at 30% of your taxable amount at the time of withdrawal.
In case you need any further help, contact us here.
- If other players are on the same rank as me, how much will I win?
The winnings will be equally split between all the players who are tied at that rank.
For example
The winning amount for Rank 1 is Rs.1,000 and for Rank 2 is Rs.500
Now, if two players have a tie at the 1st rank, the total winnings for both the 1st and 2nd ranks will be split equally between both the winners
In this case, both the players will win Rs.750 each i.e. (Rs.1000 + Rs.500)/2 = Rs.750In case you need any further help, contact us here.
- How soon will I receive my winnings?
Usually within 4 hours after the match is completed and winners are declared!
For matches ending late at night, your winnings will be added to your Nifty10 account the next morning after the match winners are declared.
In case you need any further help, contact us here.
Understanding Your Transactions
- How do I check my Nifty10 account balance?
Visit the Side Navigation Menu > My Balance. Alternatively, you can click the icon in the top-right corner of the app.
You’ll see your account balance in 3 categories:
Deposit – Cash you added to your Nifty10 account which hasn’t been used yet to join any cash contests
Winnings – Amount you earned by joining and winning cash contestsPS: You also receive a confirmation email with details for each successful transaction on your registered email ID.
In case you need any further help, contact us here.
- Where do I check my transaction history on Nifty10?
Visit the Side Navigation Menu > My Balance > My Transactions. Simply click on the download icon in the top right corner of the app and you can download the following:
You can download your Transaction statement (up to 1 year)
TDS Statement (Financial year)
TDS Certificate (Only available if taxes are applicable)If you face any issues, please write to us and we’ll assist you.
- Can I transfer balance from one Nifty10 account to another?
No! Your balance cannot be transferred to any other Nifty10 account.
In case you need any further help, contact us here.
- How is my account balance utilised while joining paid contests?
Your entry amount will be covered in the following order:
For public cash contests:
Discount Bonus (As per Discount bonus applicability)
Deposit (Including Discount Points)
WinningsFor private cash contests:
Deposit (Including Discount Points)
WinningsIn case you need any further help, contact us here.