Difference between section 115bb and 194b of income tax act
This query is : Resolved
Guest
Guest
(Querist)
04 September 2014
DIFFERENCE BETWEEN SECTION 115BB AND 194B OF INCOME TAX ACT
CA.Rashmi Billore
(Expert)
05 September 2014
Sec. 115 BB and Sec. 194B both are talks about Taxation on Income from any games which is sort of gambling or betting like lotteries, crossword puzzles, races including horse races, card game.
Sec. 115 BB is charging section which explain about applicable rate of tax on above , while sec. 194 B explain TDS norms that when a payer of above income is required to deduct TDS.
Sec. 115 BB is charging section which explain about applicable rate of tax on above , while sec. 194 B explain TDS norms that when a payer of above income is required to deduct TDS.
Guest
Guest
(Querist)
07 September 2014
Thanx for reply.....
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