Section 115BB of the Income Tax Act Taxscan

Section 115BB of the Income Tax Act Taxscan 115bb 115BB has limited scope to tax winning arising from speci- fied categories Any winnings from an offline game shall be taxed under Section 115BB only if 115bb of income tax act 115BB Where the total income of an assessee includes any income by way of winnings from any lottery or crossword puzzle or race including horse race (not

115bb of income tax act Section 115BB of the Income Tax Act provides tax rate of 30% on certain casual income of betting and gambling in nature

115bb Section 115BB was inserted by the Finance Act, 1986 to tax the winnings at the flat rate of 40% [It is to be noted that the rate of 40% was SECTION 165-115BB Order of application of assets: residual unrealised net loss View history reference Order in which assets are to be applied 165-115BB