Deduction of tax from winnings from horse races.

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.... horse races as required under section 194BB of the Income-tax Act, 1961. 2. The income-tax is deductible at source only where the income by way of winnings from any horse race in an amount exceeding Rs.2,500 is paid by any book-maker or a race club. The provisions of section 194BB are applicable in the case of resident as well as non-resident tax-payers. The rates for deduction of tax at source ....

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.... This being a provision introduced only last year it is necessary that a close supervision and control is exercised over its implementation. You may kindly make adequate arrangements for ensuring that the book-makers and the race clubs deduct the tax at source regularly and pay the same to the credit of the Central Government within the time, namely, within one week from the date of deduction or t....