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of <h1>Bookmakers must deduct income tax at source on single horse-race payouts over ?10,000 when paying prize money</h1> A bookmaker or any person licensed to organise horse racing who pays winnings from a horse race must, when making a single transaction exceeding ten thousand rupees, deduct income tax at source at the applicable rates at the time of payment. The obligation applies to payments of prize money from horse races and the tax must be withheld by the payer at the time the payment is made.
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