- Whenever a race meeting is held at which payments are made for admission, there shall be charged, levied and paid to Government a tax at the rate of 35 per cent on all payments so made.
- On the application of the manager of such race meeting Government may permit him on such conditions as they may prescribe-
- to pay the amount of the tax due by means of a consolidated payment of 35 per cent of the gross sum
received by him on account of payments for admission and on account of the tax, or
- to compound for the aggregate of the tax leviable under subsection (1) by the payment of such sum
as Government may fix in this behalf.
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