Tax deduction at source on horse race winnings: prescribed rates apply and deducted tax must be remitted via authorised banks. Deduction of tax at source under Section 194BB applies to winnings from horse races, with rates for persons and companies prescribed by the Finance Act, 1983 for the financial year 1983-84; where tax computed as if the winnings were total income yields a higher charge, that higher rate applies. Tax deducted must be remitted to the credit of the Central Government through the Reserve Bank of India, State Bank of India, or other authorised public sector banks within one week from the last day of the month of deduction, with income tax and surcharge recorded separately on the correct challan.