Basic exemption limit is applicable to sec115bb
Darshan Vardia (2 Points)
15 February 2023
basic exemption limit is applicable to sec115bb
Darshan Vardia (2 Points)
15 February 2023
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(159783 Points)
Replied 15 February 2023
No.
Such winnings are liable to flat rate of tax at 30% without any basic exemption limit. In such a case the payer of prize money will generally deduct tax at source (i.e., TDS) from the winnings and will pay you only the balance amount.
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