Understanding Section 115BB of the Income Tax Act

Understanding Section 115BB of the Income Tax Act 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 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 Under Section 115BB of the Income Tax Act 1961, your casual income is subject to taxation This section aims to prevent tax evasion and ensure

115bb of income tax act Home · » Legal Information · » Statutes · » Statutes: Connecticut · » Title 46B Family Law · » § 46b-115bb Service of petition and order 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