115bb Of Income Tax Act
115bb Of Income Tax Act
INCOME TAX ACT SECTION 115BB TAX ON WINNINGS FROM LOTTERIES, CROSSWORD PUZZLES, RACES INCLUDING HORSE RACES, CARD GAMES AND OTHER GAMES OF ANY SORT OR GAMBLING
The provisions of Finance Bill, 2023 , relating to direct taxes seek to amend the Income-tax Act, 1961 (hereafter referred Section 115BB of the Income Tax Act lays down the rate of tax for winnings of any lottery, card games, horse-race, crossword puzzle or any other gambling or
jennifer tilly poker If a person whose total income before allowing deductions under Chapter VI-A of the Income-tax Act or deduction for capital gains , does not A bare reading of the above circular and the provisions makes it clear that Section 115BB of the Act envisages taxation at the flat rate of 40% on the total
