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of <h1>TDS Rates for Lotteries, Horse Races, and Commissions: Sections 194B, 194BB, 194G for FY 1992-93 Unchanged.</h1> The circular outlines the tax deduction at source (TDS) rates under sections 194B, 194BB, and 194G of the Income-tax Act, 1961, applicable for the financial year 1992-93. The rates remain unchanged from the previous year: 40% for lottery and crossword winnings over Rs. 5,000, 40% for horse race winnings over Rs. 2,500, and 10% for commissions on lottery ticket sales over Rs. 1,000, all subject to surcharges. It details responsibilities of tax deductors, including timely payment to the government, issuing TDS certificates, obtaining a Tax Deduction Account Number (TAN), and filing returns. Penalties for non-compliance are also specified.
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