Deduction under chapter vi - a
This query is : Resolved
07 November 2011
Under which Section and where exactly is it there in the Income Tax Act that deductions under Chapter VI – A cannot be claimed from Long Term Capital Gains and Winnings from lotteries, crossword puzzles etc.
I know the above is true, but can anyone tell me which Section to refer on the website www.Incometaxindia.gov.in
I know the above is true, but can anyone tell me which Section to refer on the website www.Incometaxindia.gov.in
07 November 2011
go through url and visit sec 112
https://law.incometaxindia.gov.in/DIT/Income-tax-acts.aspx
https://law.incometaxindia.gov.in/DIT/Income-tax-acts.aspx
Message likes :
1 times
07 November 2011
Thanks a lot...
and which Section says that Chapter VI A deduction is not available from winnings from lotteries, crossword puzzles etc
and which Section says that Chapter VI A deduction is not available from winnings from lotteries, crossword puzzles etc
07 November 2011
You may refer sub section 4 of Section 58 .
08 November 2011
But Section 58(4) says no allowance or expenditure should be allowed from such income....it does not say about deductions???....and that too deductions under Chapter VI - A
Deductions under Chapter VI - A is not an allowance or expenditure....
Deductions under Chapter VI - A is not an allowance or expenditure....
08 November 2011
sECTION 115BB DEALS WITH TAXATION OF LOTTERY INCOME AND PROVIDES THAT LOTTERY INCOME SHALL B TAXED AT 30 PERCENT WITHOUT ANY DEDUCTION
CA MANOJ GUPTA
JODHPUR
09828510543
CA MANOJ GUPTA
JODHPUR
09828510543
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS 194-T applicability
- GST ITC REVERSE
- Fixe term employment
- Is any professional CA is here please reply
- TDS on TRUST
- Consolidated financials
- Putting a heading on received mail
- Withdrawal in cash from partners capital account by partner
- TDS on Complimentary "Desi Ghee and Gold Coin" Provided to KBC Contestants
- RCM ISSUE ON RENT AND TRANSPORTATION CHARGES
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
