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of <h1>Income Tax Bill 2025 Clause 393(3) modernizes horse racing TDS replacing Section 194BB with Rs 10,000 threshold</h1> The Income Tax Bill 2025 introduces Clause 393(3) to modernize tax deduction at source (TDS) on horse racing winnings, replacing Section 194BB of the Income-tax Act 1961. The new provision requires bookmakers and licensed operators to deduct TDS at prescribed rates when winnings from a single transaction exceed Rs. 10,000. Key changes include focusing on single transactions rather than aggregate annual winnings, integration into a unified TDS framework, and clearer procedural requirements. While this simplifies compliance and reduces administrative burden, it may create avoidance opportunities through transaction splitting. The provision maintains the same payer obligations, threshold amount, and deduction timing as the previous law but provides better procedural clarity and harmonization within the broader tax structure.
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