I am a 45-year old male. Recently (around 4 months back), I suffered hearing loss in both my ears. I have been advised to undergo Cochlear Implant surgery by my doctor, which costs INR 10 Lakhs. I have been receiving donations from Indian and foreign friends, around INR 7 Lakhs. This amount will be used for my medical treatment. Will this be counted as my income ? I am currently not in a job. Do I have to declare this amount while filing IT returns, and are there any tax implications on this ?
CAclubindia
