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CMA Intermediate · Direct and Indirect Taxation · Income from Other Sources

Under section 94(6) of the Income-tax Act, 2025, a 'horse race' for the purposes of section 94 means a race:

A horse race means a horse race upon which wagering or betting may be lawfully made, as defined in section 94(6) of the Income-tax Act, 2025. Club registration, prize limits or the assessee's ownership of the horse are not part of the definition.

  1. Aconducted by a recognised turf club registered under any law
  2. Bheld anywhere in India with prize money exceeding a notified limit
  3. Cin which horses owned by the assessee participate
  4. Dupon which wagering or betting may be lawfully madeCorrect

Explanation

Section 94(6) defines 'horse race' as a race upon which wagering or betting may be lawfully made. Registration of the club, prize limits or ownership by the assessee are not part of the definition.

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