Taxation of Casual Income - Section 115BB & 115BBJ

115bb   Dan 115bb

115BB of the Act This computation was refused by the AO and held that the total winnings are to be taxed us 115BB and losses cannot be set off against

Section 115BB of the Act provides for the rate of tax on winnings from lotteries, crossword puzzles, races including horse races, card games and other games 115BB provides as follows:-“Tax on winnings from lotteries, crossword puzzles, races including horse races,or from gambling or betting of any form or

best mhtcet college Section 115BB specifically addresses the taxation of income derived from gambling or betting activities, including winnings from offline gaming contests  115bb Of Income Tax Act