Difference between section 115bb and 194b of income tax act

This query is : Resolved

Report Abuse Follow Query Ask a Query

Guest

Guest (Querist)

04 September 2014 DIFFERENCE BETWEEN SECTION 115BB AND 194B OF INCOME TAX ACT

CA.Rashmi Billore

CA.Rashmi Billore (Expert)
Follow

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.

Guest

Guest (Querist)

07 September 2014 Thanx for reply.....

Upgrade to CAclubindia Pro. Subscribe Now!