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of <h1>Income Tax Act Sec 194G Amended: New Rules for Lower Tax Deduction on Lottery Income Effective June 1992.</h1> Section 194G of the Income-tax Act is amended to include two new sub-sections effective June 1, 1992. Sub-section (2) allows the Assessing Officer to issue a certificate for a lower or no deduction of income tax if satisfied that the total income from activities involving lottery tickets justifies such a decision. Sub-section (3) requires the person responsible for paying the income to adhere to the tax deduction rate specified in the certificate until it is canceled by the Assessing Officer.
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