https://www.taxtmi.com/circulars?id=8350 Section 194B requires deduction of income tax at source on lottery and crossword puzzle winnings for 1976-77 at Finance Act prescribed rates, with no deduction where winnings do not exceed the statutory threshold. Tax is deductible on cash prizes and on the aggregate value when prizes are partly in kind; instalment payments are taxed on actual payment. Rounding rules apply to tax deducted; government and other payers have specified timelines for remittance. Forms 13 B, 19B and 26B govern certificates, withholding documentation and quarterly reporting. en-us Fri, 25 Jun 1976 00:00:00 +0530 Thu, 02 Dec 2010 15:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=8350 Section 194B requires deduction of income tax at source on lottery and crossword puzzle winnings for 1976-77 at Finance Act prescribed rates, with no deduction where winnings do not exceed the statutory threshold. Tax is deductible on cash prizes and on the aggregate value when prizes are partly in kind; instalment payments are taxed on actual payment. Rounding rules apply to tax deducted; government and other payers have specified timelines for remittance. Forms 13 B, 19B and 26B govern certificates, withholding documentation and quarterly reporting. Circulars Income Tax Fri, 25 Jun 1976 00:00:00 +0530 https://www.taxtmi.com/circulars?id=8350