Income from lottery business taxable us 115BB after setoff of loss u

card games and other games of any sort or gambling or betting of any form or nature whatsoever - Section 115BB - International Taxation

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%

115bb SECTION 165-115BB Order of application of assets: residual unrealised net loss View history reference Order in which assets are to be applied 165-115BB

115bb of income tax act 115BB has limited scope to tax winning arising from speci- fied categories Any winnings from an offline game shall be taxed under Section 115BB only if