Tax on income referred to in Section 68 or 69 or 69A or 69B or 69C or 69D - Section 115BBE - Income Tax - Ready Reckoner - Income Tax

Tax on income referred to in Section 68 or 69 or 69A or 69B or 69C or 69D - Section 115BBE (1) Where the total income of an assessee- 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 u/s 139 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) then the income-tax payable shall be the aggregate of- - the amount of income-tax calculated on the income referred to in clause (a) and clause (b), at the rate of 60% - 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) (2) 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 section 115BBE(1)(a).