Deduction of tax at source--Section 194BB of the Income-tax Act, 1961--Deduction from income by way of winnings from horse races--Rates of tax for the financial year 1983-84

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....84 Circular No. 366 Dated 20/7/1983 From R.C. Handa, Director, Central Board of Direct Taxes. To All Race Clubs. Subject : Deduction of tax at source--Section 194BB of the Income-tax Act, 1961--Deduction from income by way of winnings from horse races--Rates of tax for the financial year 1983-84. Sir, I am directed to invite a reference to Board's Circular No. 339 (F.No. 275/18/82-ITB....

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....-tax in respect of the income at the rates prescribed in Sub-Paragraph I of Paragraph A of Part III of the First Schedule to the Finance Act, 1983, if such income had been the total income, whichever is higher. II. In the case of a company— (a) where the company is a domestic company 22.575 per cent (IT 21.5 per cent + SC 1.075 per cent) (b) where the company is not a domestic company 73.5....