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Section 115BB of ITA, 1961 : Section 115Bb: Tax On Winnings From Lotteries, Crossword Puzzles, Races Including Horse Races, Card Games And Other Games Of Any Sort Or Gambling Or Betting Of Any Form Or Nature Whatsoever

The Income-tax Act, 1961

Explanation using examples

Imagine that Mr. Sharma, a software engineer, wins a jackpot of INR 1,00,000 in a local lottery. His r