Deduction of tax at source-Section 194B and 194BB of the Income-tax Act, 1961-Deduction from winnings from lottery or crossword puzzle or horse race-Rates of tax applicable during the financial year 1988-89

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....istration)             All Race Clubs/Turf Clubs. Sir, Subject:  Deduction of tax at source-Section 194B and 194BB of the Income-tax Act, 1961-Deduction from winnings from lottery or crossword puzzle or horse race-Rates of tax applicable during the financial year 1988-89. I am directed to invite a reference to this Department's Circular No. 485 (F. No. 275/42/87-IT(B)) dated 27-5-87 [Printed at [1987] 166 ITR (St.) 120] and Circular No. 507 (F. No. 275/22/88-IT(B)) dated 23-2-1988 [Printed at [1988] 171 ITR (St.) 3] on the above subject, wherein the rates at which deduction of tax under sections 194B and 194BB to be made during the financial year 1987-88 from winnings f....

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....gatory for all persons responsible for deducting tax at source to quote the Tax Deduction Account Number (TAN) in the Challans, TDS-certificates, periodical returns, etc. Detailed instructions in this regard are available in this Department's Circular No. 497 (F. No. 275/118/87-IT(B)) dated 9-10-87 [Printed at [1988] 169 ITR (St.) 54]. If a person fails to comply with the provision of section 203A, he shall, on an order passed by the ITO pay, by way of penalty, a sum which may extend to Rs. 5,000. 4. In this connection attention is also invited to the provisions of section 206 of the Income-tax Act, 1961, which reads as under: "206. The prescribed person in the case of every office of Government, the principal officer in the case of e....