Instructions for deduction of tax at source from winnings from lottery or crossword puzzle or horse race – Rates of tax applicable during the financial year 1988-89
Circular : No. 515, dated 31-5-1988.
1. I am directed to invite a reference to this Department’s Circular No. 485, dated 27-5-1987 and Circular No. 507, dated 23-2-1988 on the above subject, wherein the rates at which deduction of tax under sections 194B and 194BB to be made during the financial year 1987-88 from winnings from lotteries or crossword puzzles or horse races and the rate of surcharge leviable thereon were communicated.