Taxability of income from sale of kidney..
This query is : Open
12 March 2013
if an individual earns an income of Rs. 25 lacs from sale of his/her kidney. what would be the tax implication? Will such income fall under the tax net.?
My knowledge says it is a personal moveable property and therefore not taxable. It will go untaxed .However, income from other sources is an area open to tax such a transaction. Would like to have expert view on this.
Regards,
Roshan Tiwari
My knowledge says it is a personal moveable property and therefore not taxable. It will go untaxed .However, income from other sources is an area open to tax such a transaction. Would like to have expert view on this.
Regards,
Roshan Tiwari
12 March 2013
Commercial dealings in human organs is prohibited The Transplantation of Human Organs Act, 1994.
As far as income tax angle is concerned, i really doubt the taxability of same.
As far as income tax angle is concerned, i really doubt the taxability of same.
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