https://www.taxtmi.com/circulars?id=4767 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. en-us Wed, 20 Jul 1983 00:00:00 +0530 Sat, 02 Aug 2008 17:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=4767 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. Circulars Income Tax Wed, 20 Jul 1983 00:00:00 +0530 https://www.taxtmi.com/circulars?id=4767