Rebate on 115BB income

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student
25 Points Posted on 16 September 2021
Is rebate is allowed on lottery Income?
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On 16 September 2021 at 17:34 Report
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Quick Summary
This discussion clarifies whether a tax rebate is permissible on income earned from lotteries and crossword puzzles. Such winnings are taxed under Section 115BB of the Income Tax Act at a flat rate of 30%, and importantly, no rebate is allowed on this specific type of income.

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8 Points Posted on 16 September 2021
No rebate is not allowed on lottery income
1 Reply
On 16 September 2021 at 18:45
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Chartered Accountant
24588 Points Posted on 16 September 2021
No...
1 Reply
On 16 September 2021 at 19:55
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Profession
28271 Points Posted on 17 September 2021
Income on lottery , crossword puzzle is taxable under Sec 115BB at the rate of 30%.
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On 17 September 2021 at 06:17
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Chartered Accountant
24588 Points Posted on 02 November 2021
Taxable @ 30%
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On 02 November 2021 at 14:23

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