TDS on Winning from House Races [Section 194BB]

Who is the taxpayer

Any person paying winning from Horse Races

Who is the recipient

Any person

Payment covered

Winning from Horse Races

At what time tax has to be deducted at source

At the time of payment

Maximum amount which can be paid without Tax Deduction

If the amount of payment is Rs.10,000 or less

Rate of tax deducted at source

30% (No Surcharge or Education Cess)

1. No tax is to be deducted at source if winnings from horse race does not exceed Rs.10,000.

2. There is no provisions under section 194BB for deduction of tax at a rate lower than the rate prescribed above.

Related Topics....TDS (Tax Deducted at Source)

• 1. Deduction of Tax at Source (TDS) [Section 190 to 206CA ie. Chapter XVIIA & B]
• 2. TDS on Salary (Section 192)

• 3. TDS from Interest on Securities (Section 193)

• 4. 'TDS on Interest' other than Interest on Securities (Section 194A)
• 5. TDS on Winning from Lottery, Crossword Puzzle, Card Game, Horse Races etc. (Section 194B, 194BB)
• 6. TDS on Payment to Contractors or Sub-Contracors (Section 194C)
• 7. TDS from Insurance Commission (Section 194D)
• 8. TDS on Payment in respect of Life Insurance Policy (Section 194DA)

• 9. TDS on Payment to Non-Resident Sportsmen or Sports Associations or Non-Resident Entertainer (Section 194E)

• 10. TDS on Payments in respect of Deposit under National Savings Scheme (NSC), etc. (Section 194EE)
• 11. TDS on Commission, etc. on Sale of Lottery Tickets (Section 194G)
• 12. TDS on Commission or Brokerage (Section 194H)
• 13. TDS on Rent (Section 194-I)
• 14. TDS on Transfer of certain Immovable Properties (other than Agricultural Land) [Section 194-IA)
• 15. TDS on Payments of Rent by certain Individuals or HUF (Section 194-IB)
• 16. TDS on Fees for Professional or Technical Services (Section 194J)
• 17. TDS on Payments of Compensation on Acquisition of certain Immovable Property (Section 194LA)
• 18. TDS on Income by way of Interest from Infrastructure Debt Fund (Section 194LB)
• 19. TDS on Income from Units of a Business Trust (Section 194LBA)
• 20. TDS on Income in respect of Units of Investment Fund (Section 194LBB)
• 21. TDS on Income in respect of Investment in Securitisation Trust (Section 194LBC)
• 22. TDS Deduction by an Indian Specified Company or Business Trust from Interest to a Non-Resident / Foreign Company (Section 194LC)
• 23. TDS from Income by way of Interest on certain Bonds and Government Securites (Section 194LD)
• 24. Deduction of Tax at Source (TDS) from Other Sums (Section 195)
• 25. General Provisions of Section 197 with reference to TDS
• 26. Time and Mode of TDS Payment to Government Account or Tax paid under Section 192(1A) [Rule 30]