Circular: No. 280-Income Tax Section 194BB enjoins on any person, being a book-maker 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 and who is responsible for paying to any person any income by way of winnings from any horse race in an amount exceeding Rs. 2,500, to deduct income-tax thereon, at the rates in force, at the time of payment thereof.
In exercise of the powers conferred by sub-clause (ii) of clause (a) of sub-section (1) of section 138 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies, for the purposes of the said sub-clause, every officer of or above the rank of a Superintendent of Police serving in the Vigilance Bureau created by the Punjab Government under Notification No. 7823-3H-68/7966 dated 12-8-1968 read with Order No. 4019-V(2)-72 dated 14-8-1972 of the Government of Punjab.
