Withdraw Cash from SKILL11

At SKILL11, we make it easy and secure for you to withdraw your winnings from your fantasy cricket contests. Follow the steps below to withdraw your cash directly to your bank account. Please ensure that your account and identity are fully verified before initiating any withdrawals.

1. Eligibility for Withdrawal To be eligible for withdrawing your winnings, the following conditions must be met:

• Your SKILL11 account must be fully verified with valid identification, such as Aadhaar card, PAN card, or any other government-issued ID.
• Your bank account details must be correctly added and verified within your profile.
• Only the winnings balance (not deposits or bonuses) can be withdrawn.
• The minimum withdrawal amount is ?90.

2. Steps to Withdraw Cash Here’s how you can easily withdraw your winnings:

1. Log in to Your Account:
   • Go to the SKILL11 app or website and log in with your registered account credentials.
2. Go to the Withdraw Section:
   • Navigate to the “My Wallet” or “Winnings” section of your account. Here, you’ll see the total amount available for withdrawal.
3. Verify Your Bank Details:
   • Ensure that your bank account details (such as bank name, account number, and IFSC code) are accurately entered and verified. If you haven’t added your bank details yet, you will be prompted to do so before proceeding.
4. Enter Withdrawal Amount:
   • Choose the amount you wish to withdraw, ensuring it meets the minimum withdrawal limit of ?90.
5. Submit Withdrawal Request:
   • Click on the “Withdraw” button to submit your withdrawal request. You will receive a confirmation of your request via email or SMS.
6. Processing Time:
   • Withdrawals typically take 2-5 hours to reflect in your bank account, depending on your bank’s processing times. Please be patient as we ensure all security checks are completed.
   • Higher Amount of Withdraw take 2-5 working days to reflect in your bank account, depending on your bank’s processing times. Please be patient as we ensure all security checks are completed.

3. Bank Account Verification For security purposes, you will be required to verify your bank account details before withdrawing funds. Make sure that the details you provide match the information on your SKILL11 account and government ID. Any mismatched or incorrect details may delay or prevent your withdrawal.

4. Important Notes on Withdrawals

• KYC Verification: Your account must be fully KYC (Know Your Customer) verified before any withdrawal can be processed. Ensure you have submitted all necessary identification documents, such as PAN card and bank account details.
• Tax Deduction: As per Indian tax laws, a Tax Deducted at Source (TDS) of 30% will be applied on any winnings over ?10,000. The deducted amount will be reported to the tax authorities, and you will receive a TDS certificate.
• Taxes  Payable:
  1.    From 01 October 2023, 28% GST is applicable on the amount deposited by You in Your Unutilised Account. You can view the GST paid on each deposit made by You in the Unutilised Account on the ‘My Transaction’ page on the Platform. The GST value listed on the invoice shall be the final GST amount charged to You
  2.    All winnings shall be subject to deduction of tax (“TDS”) as per the Income Tax Act 1961. With effect from 1st April 2023, TDS of 30% shall be deducted from Net Winnings (“NW”) on each withdrawal request placed by You.
  3.    For the purpose of calculating NW:
  3.1  calculation of NW for the first withdrawal during the Financial Year (“FY”):
  NW = A - (B+C)
  A = Aggregate amount withdrawn from the Winning Account;
  B = Aggregate amount of non-taxable deposit made in the Unutilised Account till the time of withdrawal;
  C = balance amount in the Unutilised Account and the Winning Account at the beginning of the FY (“Opening Balance”);
  NW shall be Zero if the sum of B & C is equal to or greater than A
  3.2  calculation of NW during the FY in each subsequent withdrawal from the Winning Account
  NW =A-(B+C+E)
  A = Aggregate amount withdrawn from the Winning Account till the time of such withdrawal including the amount of such subsequent withdrawal;
  B = Aggregate amount of non-taxable deposit made in the Unutilised Account till the time of such subsequent withdrawal;
  C = balance amount in the Unutilised Account and the Winning Account at the beginning of the FY (“Opening Balance”);
  E = NW comprised in earlier withdrawal or withdrawals during the FY until this subsequent withdrawal if tax has been deduced on winnings comprised in such withdrawal or withdrawals
  NW shall be Zero if the sum of B, C & E is equal to or greater than A
  calculation of NW at the end of the FY
  NW =(A+D)-(B+C+E)
  A = Aggregate amount withdrawn from the Winning Account during the FY;
  B = Aggregate amount of non-taxable deposit made in the Unutilised Account during the FY;
  C = balance amount in the Unutilised Account and the Winning Account at the beginning of the FY (“Opening Balance”);
  D = balance amount in the Unutilised Account and Winning Account at the end of the FY (“Closing Balance”) and
  E = Net Winnings comprised in earlier withdrawal or withdrawals during the FY until this subsequent withdrawal if tax has been deduced on winnings comprised in such withdrawal or withdrawals;
  NW shall be Zero if the sum of B, C & E is equal to or greater than sum of A & D
  4.    In the event, You do not withdraw any of Your winnings during a financial year and You have Net Winning balance as of 31 March of each year, then TDS of 30% shall be deducted on such Net Winnings balance from Your Winning Account as on 31 March as calculated above.
  5.    In case of any revisions by the Government of India to the aforementioned rate or the definition of Net Winnings in the future, TDS will be deducted by Us in accordance with the then-current prescribed TDS rate and the revised definition of Net Winnings. 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 Net Winnings. We shall not in any manner be responsible for users' individual tax matters.
• Withdrawals Processing:
  1.    You will be prompted to provide certain documents for processing your payments and verification purposes at the time of your first withdrawal.
  2.    The name mentioned on the identification document as provided by You at the time of withdrawal should correspond with the name provided by You at the time of Account creation.
  3.    We will process your withdrawal after verifying your bank account details and/ or UPI ID (as applicable). Upon verification, we will debit the amount from your Winning Account and transfer it online to your bank account at the earliest.
  4.    We may charge any processing fee for the online transfer of funds from your Winning Account to Your bank account
  5.    We depend on banks and third parties to process transactions on Our Platform. Thus, we may take up to 24 hours to process any payments to Your bank account. You agree not to hold Us responsible or liable for any delay in processing any payments.
  6.    A transaction, once confirmed, is final, and no cancellation is permissible.
• Processing Time: While we strive to process all withdrawal requests as quickly as possible, external factors such as bank holidays or server issues may cause slight delays.
• Fraud Prevention: Any fraudulent activities, multiple accounts, or violation of SKILL11’s Terms and Conditions will result in account suspension, and you will not be eligible for withdrawals.

5. Common Withdrawal Issues Here are a few common issues that may prevent or delay withdrawals:

• Incorrect Bank Details: Make sure your bank account details (account number, IFSC code, etc.) are correctly entered and verified.
• Pending KYC Verification: If your account is not KYC verified, your withdrawal request may be delayed. Complete your KYC process by submitting valid ID documents.
• Insufficient Winnings Balance: Ensure that the amount you are trying to withdraw is from your winnings balance, not the deposit or bonus balance.

6. Support If you face any issues during the withdrawal process, feel free to reach out to our support team at support@skill11games.com/9667976682. We are here to assist you and ensure that your winnings are transferred securely and without delay.

7. Responsible Gaming At SKILL11, we encourage responsible gaming. Make sure that you withdraw funds responsibly and manage your winnings wisely. If you have any concerns or need assistance with gaming habits, we offer self-exclusion options and support for responsible play.

8. Security and Privacy Your financial security is our top priority. SKILL11 ensures that all withdrawal requests are processed securely and that your personal and financial data is protected. We use advanced encryption methods and comply with the highest standards of data protection.

Thank you for choosing SKILL11. Enjoy your winnings, and if you have any questions, don’t hesitate to contact us!