CBDT Circular on Section 194BB Of The Income-Tax Act, 1961 – Deduction Of Tax At Source – Winning From, Horse Races – Rules And Forms Framed For The Purposes Of Deduction Of Tax At Source From Winnings From Horse Race Under The Section From 1-6-1978

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SECTION 194BB OF THE INCOME-TAX ACT, 1961 – DEDUCTION OF TAX AT SOURCE – WINNING FROM, HORSE RACES – RULES AND FORMS FRAMED FOR THE PURPOSES OF DEDUCTION OF TAX AT SOURCE FROM WINNINGS FROM HORSE RACE UNDER THE SECTION FROM 1-6-1978 CIRCULAR NO.241 [ F.NO. 142(4)/78/78-TPL ], DATED 1-6-1978 1. Under the new section 194BB, every…

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