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Medical donations taxability

Efiling 256 views 2 replies

Hari

Others

24 Points Joined May 2014

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

Replies (2)

Mihir

Wealth Manager

5293 Points Joined December 2008

Yes, the amount is taxable since it is not received from relatives.

Guest

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.