Deduction of tax at source-Section 194BB of the Income-tax Act, 1961-Income by way of winnings from horse races-Rates of tax for the financial year 1982-83

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..... Dated 4/5/1982 From R.C. Handa, Secretary, Central Board of Direct Taxes. To All Race Clubs. Subject: Deduction of tax at source-Section 194BB of the Income-tax Act, 1961-Income by way of winnings from horse races-Rates of tax for the financial year 1982-83. Sir, I am directed to invite a reference to the Board's Circular No. 3 .....

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..... ept where the rates prescribed in Sub-Paragraph I of Paragraph A of Part III of the First Schedule are applicable. 3. These instructions are issued only with a view to helping the persons responsible for making deductions of tax under this provision of the Income-tax Act. The Finance Act of the relevant year through which the changes in the tax structure are made should always be referred to for .....

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