Tax deduction at source from horse race winnings requires withholding, prompt remittance, TDS certificates, and quarterly reporting. Deduction of tax at source on horse-race winnings under section 194BB requires bookmakers or licensed organisers to deduct tax at prescribed rates on payments above the threshold; recipients (other than companies) may seek lower or nil deduction via Form 13BB; deducted tax must be paid to the Central Government within one week of deduction or challan receipt; payers must issue Form 19BB as the TDS certificate to payees; and payers must furnish quarterly Form 26BB statements of deductions to the assessing Income tax Officer on prescribed quarter end dates.