TDS on the ‘stake money’ paid to the horse owners on winning of ...

Income Tax

August 8, 2019

TDS on the ‘stake money’ paid to the horse owners on winning of races - Circular No. 240 dated 17.05.1978, clarified that tax was not required to be deducted u/s 194BB with respect to income by way of ‘stake money’ as the same is not regarded as winning from horse races - neither liable to TDS u/s 194B nor u/s 194BB and thus, assessee should not be treated as an ‘assessee in default’ u/s 201(1)

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TDS on the ‘stake money’ paid to the horse owners on winning of ...

Income Tax

August 8, 2019

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