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Section 194BB - TDS on winning from Horse Race - Income Tax - Ready Reckoner - Income TaxExtract TDS on winning from Horse Race - Section 194BB Deductor Any person being a book maker or a person to whom license has been granted by the government under any law for horse racing in any race course or for horse racing in any race course or for arranging for wagering or betting in any race course. Deductee Any person Time of Deduction At the time of payment. Rate of TDS 30% Note: No tax is to be deducted at source where the winnings from horse race does not exceed ₹ 10,000 during a financial year [Amendment by FA, 2023 , w.e.f., 01-04-2023 being the amount or aggregate of amounts exceeding ₹ 10,000/- during the financial year ]
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