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of <h1>Section 40A(3) of Income Tax Act Excludes Totalisator Dividends, Applies to Bookmaker Payments; Compliance Instructions Issued.</h1> The Board, in consultation with the Ministry of Law, has determined that section 40A(3) of the Income Tax Act, 1961, does not apply to totalisator dividends paid by race clubs to winning ticket holders. However, this section is applicable to payments made by bookmakers. Instructions are to be issued to all Income Tax Officers to ensure compliance with this directive.
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