Question

What are Casual incomes? Explain the certain incomes for which the tax is paid in the same year.​

Answer 1

Answer:

Casual income means income in the nature of winning from lotteries, crossword puzzles, races including horse races, card games and other games of any sort, gambling, betting etc. Such winnings are chargeable to tax at a flat rate of 30% under section 115BB.

Explanation:

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