One of my client is an individual person and he is willing to accept donations from various people to help a family financially as their family members are a minor children and my client wants to fund their education as a guardian.
My query is if he is accepting amounts in his own bank account amounting in lacs from various people as a donation will he be liable to show it in Income tax. It is not my clients income but received for a noble cause.
27 January 2023
accepting donation from relative, consider as gift and nothing add in income. but amount from other will come under inocme from other sources.
CAclubindia
