Business Losses Not Offset Against Gambling Income; Total Winnings Taxed 40% u/s 115BB. https://www.taxtmi.com/highlights?id=42506 Loss sustained in business is not allowed to be set off against betting and gambling income - The total winnings from betting of the assessee should be brought to tax @40% u/s 115BB en-us Tue, 06 Nov 2018 13:03:51 +0530 Tue, 06 Nov 2018 13:03:51 +0530 TaxTMI RSS Generator Business Losses Not Offset Against Gambling Income; Total Winnings Taxed 40% u/s 115BB. https://www.taxtmi.com/highlights?id=42506 Loss sustained in business is not allowed to be set off against betting and gambling income - The total winnings from betting of the assessee should be brought to tax @40% u/s 115BB Highlights Income Tax Tue, 06 Nov 2018 13:03:51 +0530 https://www.taxtmi.com/highlights?id=42506