Section 115bb - Betting Exchange India -

115bb   Dan 115bb of income tax act

Further, the income earned from winnings is subject to tax in the hands of the person winning the game under section 115BB of the IT Act @ 30%

The tax on winnings from lotteries, crossword puzzle, races, card games, betting is levied under Section 115BB of the Income Tax Act, 1961  115BB of the Income Tax Act As per this section ,income tax payale 115BB Posted by balasubramanian on Jan 19, 2010 Answer ID

kerala guessing chart As per section 115BB of the Income-tax Act,1961, the entire income from winning lotteries, games shows, etc will attract tax at the rate of 115bb Of Income Tax Act