115bb Of Income Tax Act

Understanding Section 115BB of the Income Tax Act 115bb 115BB — Held, Yes By C N Vaze, Shailesh Kamdar, Chartered Accountants Reading Time 4 mins fiogf49gjkf0d 23 114 ITD 638 ACIT v Raghunath B 115bb of income tax act Section 115BB specifically addresses the taxation of income derived from gambling or betting activities, including winnings from offline gaming contests

115bb Income under section 115BB is taxed at the rate of 30% 5 Is basic exemption available on casual income?