Tds on winnings from horse race
Section: 194BB
Payer : 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
Payee : any person
Nature of transaction : payer paying to any person any income by way of winnings from any horse race
Threshold limit : ₹10,000
Tds rate : 30%
Notes:
Payer at the time of paying winnings from horse race have to deduct Tds at the rate in force.
Source " income tax india"
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