https://www.taxtmi.com/acts?id=46990 A new provision disallows any deduction under the Act for expenditures or allowances when computing Income from other sources that consists of winnings from lotteries, games, races (including horse races), gambling or betting, but preserves deduction for an assessee who owns horses maintained for running in horse races; "horse race" means a race upon which wagering or betting may be lawfully made. en-us Fri, 03 Jan 2025 15:00:14 +0530 Fri, 03 Jan 2025 15:00:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=46990 A new provision disallows any deduction under the Act for expenditures or allowances when computing Income from other sources that consists of winnings from lotteries, games, races (including horse races), gambling or betting, but preserves deduction for an assessee who owns horses maintained for running in horse races; "horse race" means a race upon which wagering or betting may be lawfully made. Act-Rules F. Acts / Amendment Acts Fri, 03 Jan 2025 15:00:14 +0530 https://www.taxtmi.com/acts?id=46990