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of <h1>Tax Deduction Rules for Lottery and Horse Race Winnings: No Rate Change for 1990-91, Sections 194B & 194BB.</h1> The circular addresses the deduction of tax at source under sections 194B and 194BB of the Income-tax Act, 1961, specifically for winnings from lotteries, crossword puzzles, and horse races for the financial year 1990-91. It confirms that the Finance Act, 1990, does not alter the tax rates and surcharge from the previous year. It outlines the responsibilities of those paying such winnings to deduct and remit taxes to the Central Government punctually. Failure to comply may result in liabilities. The circular advises contacting the Assessing Officer or Public Relations Officer for further assistance. Copies are available at the Directorate of Income-tax in New Delhi.
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