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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..... 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. 301 [F. No. 275/11/81-IT(B)], dated the 29th April, 1981, printed at [1981 .....

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..... II 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 any difference of opinion. Yours faithfully, (Sd.) R.C. Handa Secretary, .....

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