Tax on foreign receipt received for charity purpose
This query is : Resolved
21 March 2016
if a person is in receipt of money from outside India with instruction from payer that recipient Indian has to spend money for helping poor student is taxable in India ?? whether recipient Indian has to show in his ITR or not??
21 March 2016
The remittance is received with specific instructions from the sender. It thus amounts to TRUST. Remittance per se is not taxable. The call is to be taken based on the quantum of remittance. (It is always better to show the remittance in ITR under exempt income column)
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