Tax withholding on horse-race winnings requires bookmakers to deduct income tax at source when winnings exceed the threshold. Persons who are bookmakers or holders of licences for horse racing or arranging wagering at race courses must deduct income-tax at source from payments of ... Summary
Tax withholding on horse-race winnings requires bookmakers to deduct income tax at source when winnings exceed the threshold.
Persons who are bookmakers or holders of licences for horse racing or arranging wagering at race courses must deduct income-tax at source from payments of winnings from horse races that exceed a specified threshold, at the rates in force at the time of payment, with a proviso exempting payments made before a stated commencement date.
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