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.
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.