कोशिश गोल्ड - मुक्त
Crowdfunded medical aid: What's taxable?
Mint Bangalore
|June 02, 2025
My father suffered a brain stroke in July and was hospitalized, followed by a month in the ICU.
After stabilizing, he spent another four and a half months at a stroke rehab centre. Since the treatment costs were high and insurance cover was exhausted, we turned to crowdfunding. My uncle gave ₹5 lakh to my mother, maternal grandmother ₹5 lakh, and ₹1 lakh from my aunt (my mother's sister-in-law). I understand these are exempt under Section 56(2) of the Income Tax Act. In addition, we got ₹3,55,519 from friends and well-wishers. Would this fall under 'Income from Other Sources'? All funds were used for treatment, and we're currently living paycheck to paycheck.
—Navodit Sudhir Any amount received without consideration from a relative would not be taxable and is specifically exempt under Section 56(2)(x) of the Income Tax Act, 1961.
यह कहानी Mint Bangalore के June 02, 2025 संस्करण से ली गई है।
हजारों चुनिंदा प्रीमियम कहानियों और 10,000 से अधिक पत्रिकाओं और समाचार पत्रों तक पहुंचने के लिए मैगज़्टर गोल्ड की सदस्यता लें।
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