https://www.taxtmi.com/highlights?id=48503 TDS on the ‘stake money’ paid to the horse owners on winning of races - Circular No. 240 dated 17.05.1978, clarified that tax was not required to be deducted u/s 194BB with respect to income by way of ‘stake money’ as the same is not regarded as winning from horse races - neither liable to TDS u/s 194B nor u/s 194BB and thus, assessee should not be treated as an ‘assessee in default’ u/s 201(1) en-us Thu, 08 Aug 2019 09:27:02 +0530 Wed, 07 Aug 2019 17:00:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=48503 TDS on the ‘stake money’ paid to the horse owners on winning of races - Circular No. 240 dated 17.05.1978, clarified that tax was not required to be deducted u/s 194BB with respect to income by way of ‘stake money’ as the same is not regarded as winning from horse races - neither liable to TDS u/s 194B nor u/s 194BB and thus, assessee should not be treated as an ‘assessee in default’ u/s 201(1) Highlights Income Tax Thu, 08 Aug 2019 09:27:02 +0530 https://www.taxtmi.com/highlights?id=48503