CHAPTER XVI
SPECIAL PROVISIONS APPLICABLE TO FIRMS
Winnings from horse race.
194BB. Any person, being a bookmaker or a person to whom a licence has been granted by the Government under any law for the time being in force for horse racing in any race course or for arranging for wagering or betting in any race course, who is responsible for paying to any person any income by way of winnings from any horse race 1[being the amount or 2[in respect of a single transaction]exceeding ten thousand rupees 3[during the financial year]] shall, at the time of payment thereof, deduct income-tax thereon at the rates in force.
Notes:-
1. Substituted by the Finance Act, 2023 dated 01.02.2023 w.e.f 01.04.2023.
for the words-
in an amount exceeding ten thousand rupees
The following shall be subsituted, namely-
"being the amount or aggregate of amounts exceeding ten thousand rupees during the financial year"
2.Substituted by The Finance Act, 2025dated 29.03.2025.
for the words,
aggregate of amounts
the following Chapter shall be substituted namely
in respect of a single transaction
3. Omitted byThe Finance Act, 2025dated 29.03.2025.