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of <h1>Finance Bill 2012 Introduces Section 115BBE: 30% Tax on Income from Sections 68-69D, No Deductions Allowed</h1> Clause 45 of the Finance Bill, 2012 introduces section 115BBE to the Income-tax Act, effective April 1, 2013. This section mandates that if an assessee's total income includes amounts specified in sections 68, 69, 69A, 69B, 69C, or 69D, the tax payable will include 30% on such income and the tax applicable to the remaining income. Additionally, no deductions for expenditures or allowances will be permitted when computing income under these specified sections. This amendment applies from the assessment year 2013-2014 onwards.
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