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Taxablity of fraternity contribution

Sai Prabhu Narayanan (Articled assitant ) (161 Points)

13 August 2019

Hello !

Whether Indian medical Association's fraternity contribution received by a nominee of a member is taxable ???

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3 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160332 Points)
Replied 14 August 2019

As it is considered under 'Social Security Scheme' and contribution paid by members is invested in collaboration with insurance companies, it should be tax-exempt; but should be verified from its documents.

Sai Prabhu Narayanan (Articled assitant ) (161 Points)
Replied 14 August 2019

Thank you sir for the clarification

Ravindranath Tholpadi (Medical Officer ) (22 Points)
Replied 25 June 2020

If the fraternity contributions by the members collected immediately after the death and given to the family of the deceased as a lump sum amount and not invested in insurance, is it taxable in the hands of the receiver?