The effective rate of tax on winning from lotteries under Section 115BB is:

CS Executive · Tax Laws · PYQS · December 2023
The effective rate of tax on winning from lotteries under Section 115BB is:
(A) 31.2%
(B) 41.6%
(C) 20.8%
(D) 15%

Answer & Explanation:

Correct Answer: Option (A)

Official answer key: (A).

Topics: Income Tax Act, 1961

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