How to remember section 115BB of the Income Tax Act, 1961
How to remember section 115BB of the Income Tax Act, 1961
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
chance are taxed under Section 115BB Says Suresh Surana, founder, RSM India: Section 115BB provides for taxing income derived by winnings Section 115BB of the Act provides for the rate of tax on winnings from lotteries, crossword puzzles, races including horse races, card games and
kalyan patti ka chart According to the Income Tax Act, any game winnings are considered income and are subject to tax at 30% under Section 115BB This includes 115BB [ Tax on winnings from lotteries, crossword puzzles, races including horse races, card games and other games of any sort or gambling or betting of any
