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of <h1>Clause 194 of Income Tax Bill, 2025: 30% Tax on Lotteries, Gambling, Digital Assets; 10% on Patent Royalties, Carbon Credits.</h1> Clause 194 of the Income Tax Bill, 2025, outlines tax obligations for specific income types. It mandates a 30% tax on winnings from lotteries, gambling, and online games, and on income from virtual digital assets, with no deductions allowed except for acquisition costs. A 10% tax applies to royalties from patents developed and registered in India and income from carbon credit transfers, with restrictions on deductions. Profits from life insurance business are taxed at 12.5%. The clause defines terms like carbon credit, patent, and online game, and specifies conditions for exercising tax options on patent royalties.
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