Deduction of tax at source--Section 194BB of the Income-tax Act, 1961--Deduction from income by way of winnings from horse races--Rates of tax for the financial year 1983-84

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..... -84 Circular No. 366 Dated 20/7/1983 From R.C. Handa, Director, Central Board of Direct Taxes. To All Race Clubs. Subject : Deduction of tax at source--Section 194BB of the Income-tax Act, 1961--Deduction from income by way of winnings from horse races--Rates of tax for the financial year 1983-84. Sir, I am directed to invite a reference to Board's Circular No. 339 (F.No. 275/18/82-IT .....

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..... tax in respect of the income at the rates prescribed in Sub-Paragraph I of Paragraph A of Part III of the First Schedule to the Finance Act, 1983, if such income had been the total income, whichever is higher. II. In the case of a company— (a) where the company is a domestic company 22.575 per cent (IT 21.5 per cent + SC 1.075 per cent) (b) where the company is not a domestic company 73.5 pe .....

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..... elevant Finance Act through which the changes in the tax structure are made. 5. In case any assistance is required, the ITO concerned or the local Public Relations Officers of the Income-tax Department may be approached for the same. 6. The copies of this Circular will be available with the Director of Inspection (Research, Statistics & Public Relations), 6th Floor, Mayur Bhavan, Connaught Circu .....

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