Taxation of Casual Income - Section 115BB & 115BBJ

Taxation of Casual Income - Section 115BB & 115BBJ 115bb INCOME TAX ACT SECTION 115BB TAX ON WINNINGS FROM LOTTERIES, CROSSWORD PUZZLES, RACES INCLUDING HORSE RACES, CARD GAMES AND OTHER GAMES OF ANY SORT OR GAMBLING 115bb 115BB of the Income Tax Act, Income from winnings from online games would fall under the income covered in section 115BB and accordingly be taxed at the rate

115bb chance are taxed under Section 115BB Says Suresh Surana, founder, RSM India: Section 115BB provides for taxing income derived by winnings

115bb of income tax act Here is Casual Income Sec 115BB Is Betting & Lottery LEGAL? CA Inter Income Tax Tax on amount received from prize or lottery is payable under Section 115BB of the Income-tax Act Tax on winnings from lotteries, crossword puzzles, races