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Home > Indian Bare Acts > Income Tax Act - 1961 > Winnings from horse race.
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Income Tax Act - 1961
Title : Income Tax Act - 1961

Year : 1961

Act :

194BB. Winnings from horse race.

Any person,being a bookmaker or a person to whom a licence has been granted by the Government under any law for the time being in force for horse racing in any race course or for arranging for wagering or betting in any race course, who is responsible for paying to any person any income by way of winnings from any horse race in an amount exceeding two thousand five hundred rupees shall, at the time of payment thereof, deduct income-tax thereon at the rates in force:



Last updated on February, 2008
 
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