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Sec 115BB of income tax act
Is education cess applicable on any income by way of winning from any lottery/ crossword puzzle/ race to an Indian resident.
Replies (3)
Lottery income will be taxable @ 30% straight and thereafter added in your income and taxable slab wise along with Education cess and Secondary higher education cess
thank you for clearing my confusion
since income from lottery is a special income u/s 115BB , and no chapter VI A deduction allowed, the same should be treated separately
once it is treated separately there is no question of applying slab basis and basic exemption that means even though it is included in total income slab shouldn't be applied
slab basis should be applied only against normal income and not special income
once it is treated separately there is no question of applying slab basis and basic exemption that means even though it is included in total income slab shouldn't be applied
slab basis should be applied only against normal income and not special income
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