Section 115BBE of Income Tax Act for AY 2023-24

Section 115BBE of Income Tax Act 1961 amended by Finance Act and IT Rules. Tax on income referred to in sections 68, 69, 69A, 69B, 69C, 69D.

Amended and updated notes on section 115BBE of Income Tax Act 1961 as amended by the Finance Act 2022 and Income-tax Rules, 1962. Detail discussion on provisions and rules related to tax on income referred to in section 68 or section 69 or section 69A or section 69B or section 69C or section 69D.

Chapter XII (Sections 110 to 115BBG) of the Income Tax Act 1961 deals with the provisions related to determination of tax in certain special cases. Section 115BBE of IT Act 1961-2020 provides for tax on income referred to in section 68 or section 69 or section 69A or section 69B or section 69C or section 69D.

Recently, we have discussed in detail section 115BBDA (Tax on certain dividends received from domestic companies) of IT Act 1961. Today, we learn the provisions of section 115BBE of Income-tax Act 1961. The amended provision of section 115BBE is effective for financial year 2022-23 relevant to the assessment year 2023-24.

In this article, you will learn detail of the provisions of section 115BBE of the Income Tax Act, 1961 Bare Act read with the Income-tax Rules, 1962, regulations, notifications, circulars, orders and Press Release by CBDT, Income Tax Department and the Ministry of Law and Justice, Government of India.

Section-115BBE: Tax on income referred to in section 68 or section 69 or section 69A or section 69B or section 69C or section 69D

Section 115BBE(1) of Income Tax Act

Where the total income of an assessee,—

(a) includes any income referred to in section 68, section 69, section 69A, section 69B, section 69C or section 69D and reflected in the return of income furnished under section 139; or

(b) determined by the Assessing Officer includes any income referred to in section 68, section 69, section 69A, section 69B, section 69C or section 69D, if such income is not covered under clause (a),

the income-tax payable shall be the aggregate of—

  • (i) the amount of income-tax calculated on the income referred to in clause (a) and clause (b), at the rate of sixty per cent; and
  • (ii) the amount of income-tax with which the assessee would have been chargeable had his total income been reduced by the amount of income referred to in clause (i).

Section 115BBE(2) of Income Tax Act

Notwithstanding anything contained in this Act, no deduction in respect of any expenditure or allowance or set off of any loss shall be allowed to the assessee under any provision of this Act in computing his income referred to in clause (a) and clause (b) of sub-section (1).


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