Deduction at source on horse race winnings requires the payer to withhold tax when payments exceed the statutory threshold. Where a bookmaker or licensed person paying winnings from horse races is responsible for payment that exceeds the statutory threshold, they must deduct ... Summary
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Deduction at source on horse race winnings requires the payer to withhold tax when payments exceed the statutory threshold.
Where a bookmaker or licensed person paying winnings from horse races is responsible for payment that exceeds the statutory threshold, they must deduct income-tax at source at the rates in force at the time of payment; the withholding obligation is imposed on the payer rather than the recipient.
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