Section 194(1)(b) in The Income Tax Act, 2025

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Union of India - Subsection

Section 194(1)(b) in The Income Tax Act, 2025

(b)income-tax with which the assessee would have been chargeable had his total income been reduced by income mentioned in column C thereof.Table

Sl.No.	Assessee	Income	Rate of tax	Conditions
A	B	C	D	E
1.	Any person.	Winnings (other than from any online game) from––(a) lottery; or(b) crossword puzzle; or(c) race including horse race (not being income from the activity of owning and maintaining race horses); or(d) card game and other game of any sort; or(e) gambling or betting of any form or nature.	30%	Nil.
2.	A person, resident in India and who is a patentee (herein referred to as an eligible assessee).	Royalty in respect of a patent developed and registered in India.	10%	(a) No deduction in respect of any expenditure or allowance shall be allowed to the eligible assessee under any provision of this Act in computing his income referred to in column C;(b) an option for taxation of income by way of royalty in respect of a patent developed and registered in India is exercised in the prescribed manner, on or before the due date specified under section 263(1) for furnishing the return of income for the relevant tax year;(c) where an option is exercised under clause (b) and the eligible assessee. does not offer its income for taxation as per the provisions of columns C and D for any of the five tax years, succeeding such tax year, then such assessee shall not be eligible to claim the benefit of the provisions of columns C and D for five tax years subsequent to the tax year in which such income has not been offered to tax as per such provisions.
3.	Any person.	Income by way of transfer of carbon credits.	10%	No deduction in respect of any expenditure or allowance shall be allowed to the assessee under any provision of this Act in computing his income referred to column C.
4.	Any person.	Any income from the transfer of any virtual digital asset.	30%	(a) No deduction in respect of any expenditure (other than cost of acquisition, if any) or allowance or set off of any loss shall be allowed to the assessee under any provision of this Act in computing the income referred to in column C; and(b) no set off of loss from transfer of the virtual digital asset computed herein shall be allowed against income computed under any provision of this Act to the assessee and such loss shall not be allowed to be carried forward to succeeding tax years.
5.	Any person.	Any income by way of net winnings from any online game, computed in the manner, as may be prescribed.	30%	Nil.
6.	Any person.	Any profits and gains from life insurance business.	12.5%	Nil.