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

Tax Not Deducted at Source for 'Stake Money' to Horse Owners; Not Considered Winnings u/s 194BB.

August 8, 2019

Case Laws Income Tax AT

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 ...

Tax Not Deducted at Source for 'Stake Money' to Horse Owners; Not Considered Winnings u/s 194BB.

August 8, 2019

Case Laws Income Tax AT

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