Deduction of tax at source under sections 194B and 194BB of the Income-tax Act, 1961--Deduction from winnings from lottery or crossword puzzles or horse races--Rates of tax applicable during the financial year 1990-91
Contents
Summary
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
Tax deduction at source on gambling winnings: obligation to deduct unchanged rates and payer liability persists. The Finance Act, 1990 did not change rates or surcharge for tax deduction at source on winnings from lotteries, crossword puzzles and horse races for ... Summary
Tax deduction at source on gambling winnings: obligation to deduct unchanged rates and payer liability persists.
The Finance Act, 1990 did not change rates or surcharge for tax deduction at source on winnings from lotteries, crossword puzzles and horse races for 1990-91. Payors of such winnings must continue to deduct tax at the rates set out in the earlier Circular No.536, deposit amounts to the Central Government within stipulated timeframes, and furnish the annual return; failure to deposit deducted tax or to file returns attracts liability and other consequences.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
Join Channel
TaxTMI 
