TaxTMI 
TaxTMI 
consideration problem
X X X X Extracts X X X X
X X X X Extracts X X X X
....onsideration problem<br> Query (Issue) Started By: - krishan sharma Dated:- 1-2-2011 Last Reply Date:- 7-9-2011 Income Tax<br>Got 1 Reply<br>Income Tax<br>dear sir I have a query against special inco....
X X X X Extracts X X X X
X X X X Extracts X X X X
....me if I have no normal income ( chargable slabe rate) and i wine a lottery and deduct the TDS from the lottery amount at 30% at the time of recieved in this case i can consider the special income as a....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... normal income for refund income tax if lottery amount not exceed the exemted amount of slabe rate plaese cleare my query Reply By Surender Gupta: The Reply: Section 115BB of Income Tax Act, 1961 p....
X X X X Extracts X X X X
X X X X Extracts X X X X
....rovide the provisions for levy of tax on lottery income. It is 30% on such income. In case assessee does not have any other income, there is no scope of allowing basic exemption as per section 115BB. ....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... To remove your doubt, you may also refer to section 112, where basic exemption has been allowed in respect of long term capital gains.<br> Discussion Forum - Knowledge Sharing ....