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of <h1>Income Under Sections 68-69D Taxed at 60% with No Deductions Allowed per Section 115BBE of Income Tax Act</h1> Section 115BBE of the Income Tax Act addresses the taxation of income specified under sections 68, 69, 69A, 69B, 69C, and 69D. If an assessee's total income includes such income, either as declared in the return or determined by the Assessing Officer, the tax rate is 60%. Additionally, no deductions, allowances, or loss offsets are permitted when computing this income. This provision ensures that certain unexplained or unaccounted incomes are taxed at a higher rate without the benefit of deductions or offsets.
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