194G. [ Commission, etc., on the sale of lottery tickets. [Inserted by Act 49 of 1991, Section 55 (w.e.f. 1.10.1991).]
- ][(1)] [ Section 194-G renumbered as sub-Section (1) by Act 18 of 1992, Section 73 (w.e.f. 1.6.1992).][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 exceeding one 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 ten per cent.] [Inserted by Act 49 of 1991, Section 55 (w.e.f. 1.10.1991).](2)[* * *] [ Sub-Sections (2) and (3) omitted by Act 32 of 2003, Section 76 (w.e.f. 1.6.2003).](3)[* * *] [ Sub-Sections (2) and (3) omitted by Act 32 of 2003, Section 76 (w.e.f. 1.6.2003).][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.] [Inserted by Act 49 of 1991, Section 55 (w.e.f. 1.10.1991).]
