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of <h1>Amendment to Section 115BBE: Expanded Income Restrictions and 60% Tax Applied Retrospectively from April 1, 2017.</h1> Section 115BBE of the tax code imposes a 60% tax rate on certain types of income, specifically those outlined in sections 68, 69, 69A, 69B, 69C, and 69D. Previously, no deductions or allowances were permitted for these incomes. A proposed amendment seeks to expand this restriction by including additional income types under clause (b) of subsection (1). This change will be applied retrospectively from April 1, 2017, affecting the assessment year 2017-2018 and onwards.
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