48. Insertion of new section 132C of the principal enactment

The following new section is hereby inserted immediately after section 132B of the principal enactment, and shall have effect as section 132C of that enactment :—

132C. (1) any person or partnership who or which is conducting any lottery or betting or gambling activity within the meaning of this

Chapter on or after April 1, 2004, shall apply for and obtain a registration number from the

Commissioner-General, thirty days prior to the commencement of such activity, if the prizes awarded or payments made are liable to the deduction of income tax under this Chapter, and shall furnish a return on a monthly basis containing such particulars as may be specified by the Commissioner-General in relation to such activity :

Provided that in respect of payments made during the period April 1, 2004 to

September 30, 2004, such registration number shall be obtained on or before September 30,

2004.

Any person or partnership who or which does not so register or does not furnish any return, shall be liable to a penalty not exceeding rupees fifty thousand which maybe imposed by the Commissioner