offering vs income
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 February 2017
Sir, as per cutom in india a sannyasi receives money from the devotees/disciples as offerings. As per income tax act of india, are these offerings deemed to income and to be taxed, or to be treated as gift ?
03 February 2017
This is not gift but income of that holy man(saadhu). So it will b taxed accordingly. But generally they earn in cash, so one can't define his/her alms. And they are mendicant so hardly their income crosses the taxable limit(instead of alike Nirmal Baba) ;))
04 October 2021
If the sanyasi files the return, his income is taxable under IFOS.
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