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
- House Property Reporting in ITR
- Internship/Academic shown in Salary Pay Slip of a Doctor
- TDS Claim year
- Liable to deduct tds and 44ADA
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- Refund of 20%pre-deposit paid for stay application
- Rent lease agreement
- Relief u/s Section 89
- TDS Challan Code
- Supply through E-commerce Operators
- STCG on ETF gold & silver
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
