Amendment of section 194B
Section 85 of the Finance Act, 2023 deals with amendment of section 194B. Amendment of section 194B. 85. In section 194B of the Income-tax Act,— (i) | for the marginal heading, the following marginal heading shall be substituted, namely:— "Winnings from lottery or crossword puzzle, etc.";
Amendment of section 194B.
85. In section 194B of the Income-tax Act,—
Section 85, The Finance Act, 2023 (Act 8 of 2023).
(i) for the marginal heading, the following marginal heading shall be substituted, namely:— "Winnings from lottery or crossword puzzle, etc."; (ii) for the words "in an amount exceeding ten thousand rupees", the words "or from gambling or betting of any form or nature whatsoever, being the amount or the aggregate of amounts exceeding ten thousand rupees during the financial year" shall be substituted; (iii) after the proviso, the following shall be inserted, namely:— 'Provided further that nothing contained in this section shall apply to deduction of income-tax on winnings from any online game on or after the 1st day of April, 2023. Explanation.—For the purposes of this section, "online game" shall have the meaning assigned to it in clause (iii) of the Explanation to section 115BBJ.'.
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Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
This section refers to
Questions about Section 85
What does Section 85 of the Finance Act deal with?
Section 85 of the Finance Act is headed "Amendment of section 194B". Amendment of section 194B. 85. In section 194B of the Income-tax Act,— (i) | for the marginal heading, the following marginal heading shall be substituted, namely:— "Winnings from lottery or crossword puzzle, etc.";
How do I find court cases under Section 85 of the Finance Act?
In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Finance Act 2023 85, section 85 Finance Act 2023, section 85 of the Finance Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.
What should I read with Section 85 of the Finance Act, and has it changed?
Its own text turns on Income-tax Act 194B (Winnings from lottery or crossword puzzle, etc), so none of them can safely be read on its own.
When was the Finance Act enacted?
Finance Act was enacted in 2023 as Act 8 of 2023. India Code records no commencement date for it. It is in force as at the date shown on this page.
Other sections of this Act
- First Schedule. First Schedule10190 words
- 2. Income-tax8337 words
- Fourth Schedule. Fourth Schedule6615 words
- 5. Amendment of section 102717 words
- 150. Substitution of new section for section 1101621 words
- 54. Insertion of new section 115BAE1218 words
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