Section 115BB of the Income Tax Act Taxscan

website 115bb The tax on winnings from lotteries, crossword puzzle, races, card games, betting is levied under Section 115BB of the Income Tax Act, 1961 115bb Firstly, Section 115BB says that anything that accrues from pay-to-earn or crosswords, etc will be taxed at a full tax rate which is %

115bb Headnote: Income Tax - Taxation of Lottery Winnings - Section 115BB of the Income Tax Act, 1961  115BB Order of application of assets : residual unrealised net loss Order in which assets are to be applied 165-115BB In applying subsection 165-115B  ITAT: Income from lottery business taxable us 115BB after setoff of loss us 71 Simply RegisterSign In to access the free content across the

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