Wallet

Clause 8

We provide a Wallet to ever user who creates an account on the Platform. You can access your Wallet by clicking on the icon in the top right corner of the Platform, clicking on "Settings”, and then clicking on the ‘Wallet’ tab. However, your access to your Wallet shall be restricted till you complete all KYC procedures associated with your account. Please keep in mind that the balance in your Wallet on the Platform is only a representation of the money due to you from us under the various Policies, Programs, Guidelines and/or Agreements of the Platform and we retain the right to forfeit the balance (or any portion thereof) in your Wallet at any time in accordance with the provisions of such Policies, Programs, Guidelines, and/or Agreements (including, without limitation, under clause 11.7 of these Terms).

You must link your bank account/UPI ID with your Wallet in order to transfer money from your Wallet to your bank account. You can link your bank account/UPI ID with your wallet by filling in your bank account/UPI ID details in the fields under ‘Add Account’ on the ‘Wallet’ tab. Once you have linked your bank account/UPI ID with your Wallet, you can initiate a transfer of money from your Wallet to your linked bank account/UPI ID by typing in the amount of money you wish to transfer in the “Amount’ field under the ‘Withdraw’ heading and then clicking on the green ‘Withdraw’ button. Please note that you must have a minimum balance of INR 1000 (One Thousand) in your Wallet in order to initiate a transfer of money from your wallet to your linked bank account/UPI ID. We also retain the right to temporarily suspend your power to initiate transfers of money from your Wallet to your linked bank account/UPI ID in accordance with the various Policies, Programs, Guidelines, and/or Agreements of the Platform (including, without limitation, under clause 11.3 of these Terms and Clause 7.4 of Referral Policy). If you have any problems or issues while transferring or initiating transfers from your Wallet, please contact us by clicking the Contact Us button next to your Wallet.

If the amount of money you wish to transfer is less than INR 10,000, (Ten Thousand) it will take us between twenty-four (24) hours to seven (7) days to process the transfer. However, if the amount you wish to transfer is more than INR 10,000, (Ten Thousand) it will take us a minimum of seven (7) days to process the transfer. Please note that you cannot transfer more than a total of INR 5 lakh (5,00,0000/-) in a financial year unless you register yourself under GST and obtain a GSTIN number. We shall inform you if and when you transfer a total of INR 4 lakhs (4,00,000/-) in a financial year and also when you transfer a total of INR 5 lakhs (5,00,000/-) in a financial year. If you register yourself under GST, please send us a copy of your GST valid Registration Certificate at thesocialcomments@gmail.com. In case you renew your GST registration at any time, please send us a valid proof of your renewal at the email-id mentioned above.

You hereby agree and acknowledge that you will be solely responsible for paying all applicable taxes, cess, liabilities or charges payable to the Government or any other authority or body (including, without limitation income tax and GST) on any amount you transfer from your Wallet to your linked bank account/UPI ID. You further agree and acknowledge that under no circumstances (including, without limitation, where you only pay a part of the applicable tax) shall Social Comment be liable to pay any tax on your behalf with respect to any amount (or part thereof) that you transfer from the Wallet to your linked bank account/UPI ID.