Section 55 - Amendment of section 115BB. - Finance Act, 2023

Amendment of section 115BB. 55. In section 115BB of the Income-tax Act, for the Explanation, the following shall be substituted with effect from the 1st day of April, 2024, namely: Provided that nothing contained in this section shall apply to income by way of winnings from any online game for the assessment year beginning on or after the 1st day of April, 2024. Explanation. For the purposes of this section, (i) horse race shall have the meaning assigned to it in section 74A; (ii) online game shall have the meaning assigned to it in section 115BBJ. .