115bb
Difference between section 115bb and 194b of income tax act
115bb
website 115bb 115BB of the Act to exclude income from winnings from any online games from section 115BB Here, an Online Game refers to a 115bb Section 115BB specifically addresses the taxation of income derived from gambling or betting activities, including winnings from offline gaming contests
115bb According to the Income Tax Act, any game winnings are considered income and are subject to tax at 30% under Section 115BB This includes Section 115BB of the Act provides for the rate of tax on winnings from lotteries, crossword puzzles, races including horse races, card games and other games The provisions of income earned from online gaming fall under section 115BB of the Income Tax received in kind will be taxed on
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