Income from sale of body part
This query is : Resolved
JAYDEEP PABARI
(Querist)
05 January 2013
Is sale of body part is taxable?
and whether it is illigle?
If yes, then what would be the cost of sale?
n what amount will be taxable?
and whether it is illigle?
If yes, then what would be the cost of sale?
n what amount will be taxable?
CA PARAS BAFNA
(Expert)
05 January 2013
Even though Income as defined U/s 2(24) is an inclusive definition yet certain type of income which can not be computed by applying the computational provisions are not treated as income.
.
By selling a body part the person is receiving money at one end and lossing the capacity on the other end. Here you can'y say that he is earning only. What is the net gain ? is also can not be ascertained.
.
When there is no provision for deciding such notional gain or loss in the law, it can't be taxed.
.
In short, there is no reason for getting worried when a particular Organ is donated or sold to the needy.
.
.
By selling a body part the person is receiving money at one end and lossing the capacity on the other end. Here you can'y say that he is earning only. What is the net gain ? is also can not be ascertained.
.
When there is no provision for deciding such notional gain or loss in the law, it can't be taxed.
.
In short, there is no reason for getting worried when a particular Organ is donated or sold to the needy.
.
JAYDEEP PABARI
(Querist)
05 January 2013
Thank you sir.
Even i was on the same opinion.
Thank you very much.
Even i was on the same opinion.
Thank you very much.
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