Income Tax Law And Practice B.com 3rd Year Notes Pdf __exclusive__ -

Winnings from lotteries or puzzles are taxed at a flat rate without any deductions or basic exemption benefits. 📉 Module 4: Clubbing of Income and Set-Off of Losses Clubbing of Income (Sections 60–64)

| Type | Holding Period | Tax Rate | |------|---------------|-----------| | Short-term (STCG) | < 24 months (or < 12 months for shares) | Slab rate | | Long-term (LTCG) | > 24 months | 20% with indexation | | Equity STCG (Sec 111A) | < 12 months | 15% | | Equity LTCG > ₹1 lakh | > 12 months | 10% without indexation | income tax law and practice b.com 3rd year notes pdf