Horse betting is not an gambling while
winning in casino is an gambling as per Income Tax Act. Why is it so? Is it
difference of approach? Though both forms part of the gambling. Winning in casino
are purely matter of chance, while betting on the horses can involve calculation
and experience. People look the horse’s past race record, jockey’s past race
record, diet of horses etc. which is provided in booklet at race course. As
such people don’t do such calculations at the casino.
Landmark Decision of Courts in relation to Taxation, Issues relating to Taxation & Companies Law and Many More...
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