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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Section 194B Amendment: Winnings in Kind Require Tax Payment Before Release, Effective June 1, 1997.</h1> Section 194B of the Income-tax Act is amended to include a new proviso effective June 1, 1997. It mandates that if winnings are entirely in kind or partly in cash and partly in kind, and the cash portion is insufficient to cover the tax liability for the entire winnings, the responsible party must ensure tax is paid before releasing the winnings.
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