Section 115bb - Betting Exchange India -

Income from lottery business taxable us 115BB after setoff of loss u 115bb The relevant section 115 BB of the Income Tax Act, 1961, reads as under: '115BB Where the total income of an assessee includes any income 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 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