Income Tax Act, 1967.
Exemption of sweepstake profits. |
346.—(1) Exemption shall be granted from tax under Schedule D in respect of the profits of any sweepstake held under the Public Hospitals Act, 1933 , which, but for this section, would have been assessable under Case I of the said Schedule D on the organisers (within the meaning of the said Public Hospitals Act, 1933 ) of such sweepstake or on the sweepstake committee appointed in pursuance of that Act for the purpose of such sweepstake by the said organisers thereof. | |
(2) In this section, “sweepstake” has the meaning given to it by section 1 of the Public Hospitals Act, 1933 , for the purposes of that Act. |