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TypeBare Act JurisdictionCentral Government

Finance Act 1978 Section 21

Insertion of New Section 194bb

~1 min read
https://sooperkanoon.com/act/9177

Bare act section · Research

About this section

Finance Act 1978 Section 21 is part of Finance Act 1978 - Insertion of New Section 194bb. Read the section text below and explore Indian court judgments that cite it.

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Section Text

After section 194B of the Income-tax Act, the following section shall be inserted, namely :-

"194BB. Winnings from horse race. - 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 in an amount exceeding two thousand five hundred rupees shall, at the time of payment thereof, deduct income-tax thereon at the rates in force :

Provided that no deduction shall be made under this section from any payment made before the 1st day of June, 1978".

Frequently asked questions

What does Finance Act 1978 Section 21 provide?

Section Section 21 of the Finance Act 1978 (Insertion of New Section 194bb) is reproduced on this page as part of the Finance Act 1978. Lawyers and researchers use it to read the statutory wording before checking how courts have applied this section in reported judgments.

How do I find judgments on Finance Act 1978 Section 21?

Open “Find citing judgments” on this page to search Supreme Court, High Court, and tribunal decisions that reference Finance Act 1978 Section 21. Advanced act search can narrow results by court, year, or additional act filters.

Is the section text on SooperKanoon official?

SooperKanoon hosts bare act text for research and quick reference. For filings or compliance in Central, confirm the wording against the official state gazette or authorized publication.

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