WITHDRAWALS Terms and Conditions

Terms and Conditions

  • Withdrawals are processed between Monday and Friday during regular banking hours, Weekends we do not process any withdrawals
  • Paytm withdrawals have been allowed, Team of Skill will process paytm withdrawals to registered number on file in case paytm withdrawal is selected as an option during withdrawal checkout
  • Withdrawals generally take 3 to 5 working days before it is processed, in case you have not received it after 5 days reach out to us to investigate further
  • A minimum amount of ₹100 can be withdrawn per day.
  • A maximum amount of ₹10000 can be withdrawn per day.
  • The PAN Card and Bank Account of the user requesting for Withdrawal should be verified with TeamofSkill.
  • The user’s name mentioned on the PAN card uploaded on TeamofSkill for verification, and the Profile name of user should be same.
  • TeamofSkill, at its sole and absolute discretion, can hold or deactivate the Instant Withdrawal service anytime without any prior information to the user.
  • Instant Withdrawals are not available at this time due to the nature of the business
  • In case, you have violated the Fair Play Terms of TeamofSkill, after a number of successful Instant Withdrawals, the next & forthcoming Instant Withdrawal request by you will be put on hold & will continue to be on hold until an appropriate explanation is received. Such cases shall be treated in compliance with the “Fair Play Violation.”
  • In case of a dispute, disagreement or concern between TeamofSkill and its payment partner, TeamofSkill holds all the right to put the withdrawal requests and amounts on hold until the resolution.
  • Taxes Payable - All prizes shall be subject to deduction of tax (“TDS”) as per the Income Tax Act 1961. The TDS rate prescribed by the Government of India with respect to any prize money amount that is in excess of Rs. 10,000/- is 30%. TDS of 30% shall be deducted on Net Winnings (prize money amount - contest entry amount - cash bonus). In case of any revisions by the Government of India to the aforementioned rate in the future, TDS will be deducted by us in accordance with that prescribed TDS rate. Winners will be provided TDS certificates in respect of such tax deductions. The Winners shall be responsible for payment of any other applicable taxes, including but not limited to, income tax, gift tax, etc. in respect of the prize money