Section 115BB of the Income Tax Act Taxscan

Section 115BB of the Income Tax Act Taxscan 115bb 115BB of the Income Tax Act? The facts in a nutshell are as under: The 28,52,18,347- was brought to tax by the assessee at the flat rate of 40% as 115bb of income tax act Such winnings are chargeable to tax at a flat rate of 30% under section 115BB Conditions: a No expenditure or allowance can be allowed from such income b

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 Section 115BB Where the total income of an assessee includes any income by way of winnings from any lottery or crossword puzzle or race According to the Income Tax Act, any game winnings are considered income and are subject to tax at 30% under Section 115BB This includes