1,2 (1) Any person who is responsible for paying, on or after the 1st day of October, 1991 to any person, who is or has been stocking, distributing, purchasing or selling lottery tickets, any income by way of commission, remuneration or prize (by whatever name called) on such tickets in an amount exceeding3 fifteen thousand rupees shall, at the time of credit of such income to the account of the payee or at the time of payment of such income in cash or by the issue of a cheque or draft or by any other mode, whichever is earlier, deduct income-tax thereon at the rate of 4five per cent.
5* * * * *
Explanation.-For the purposes of this section, where any income is credited
to any account, whether called Suspense Account or by any other name, in the
books of account of the person liable to pay such income, such crediting shall
be deemed to be credit of such income to the account of the payee and the
provisions of this section shall apply accordingly.
----------------------
1. Ins. by Act 49 of 1991, s. 55 (w.e.f. 1-10-1991).
2. Section 73 renumbered as sub-section (1) thereof by Act 18 of 1992, s. 73 (w.e.f.
1-6-1992).
3. Subs. by Act 28 of 2016, s. 78, for "one thousand rupees" (w.e.f. 1-6-2016).
4. Subs. by s. 78, ibid., for "ten per cent." (w.e.f. 1-6-2016).
5. Sub-sections (2) and (3) omitted by Act 32 of 2003, s. 76 (w.e.f. 1-6-2003).
Earlier sub-sections (2) and (3) were inserted by Act 18 of 1992, s. 73 (w.e.f.
1-6-1992).
Section 194DA Payment in respect of life insurance policy
Section 194E Payments to non-resident sportsmen or sports associations
Section 194EE Payments in respect of deposits under National Savings Scheme, etc
Section 194F Payments on account of repurchase of units by Mutual Fund or Unit Trust of India
Section 194G Commission, etc., on the sale of lottery tickets
Section 194H Commission or brokerage
Section 194IA Payment on transfer of certain immovable property other than agricultural land
Section 194IB Payment of rent by certain individuals or Hindu undivided family