Hi,
I had a renal transplant surgery during october 2013 for which I received donations from my friends and colleagues. The net amount will be around 10 lacs. Please let me know if this amount is taxable ? My income for 2013-14 is less than 2 lacs.
If taxable can I get the amount back by filing returns ?
Thanks
Yes, the amount is taxable since it is not received from relatives.
If the amounts are received by cheques and you intend to repay them at a later stage as convenient to you, you can treat them as unsecured loans. They will not be taxable.
You can claim deduction u/s 80DDB max Rs 40000/-if you can obtain a certificate in form no 10-I from prescribed specialist against your income.
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