Income Tax on winnings from Lottery, Game Shows, Puzzle

The Income Tax Act of 1961, since its inception, has subjected Section 115BB of the IT Act mandates separate taxation for these winnings

Though there are taxation provisions under the Income Tax Act to Accordingly, Section 115BB of the Act has been amended to exclude

president institute of computer application placement Tax Rate on Lottery Winnings: Flat Tax Rate*: Lottery winnings are taxed at a flat rate of 30% under Section 115BB of the Income Tax Act

migration certificate university of mumbai 115BB [ Tax on winnings from lotteries, crossword puzzles, races including horse races, card games and other games of any sort or gambling or betting of any