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Crowdfunded medical aid: What's taxable?

Mint New Delhi

|

June 02, 2025

My father suffered a brain stroke in July and was hospitalized, followed by a month in the ICU.

- Mahesh Nayak

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.

FLERE HISTORIER FRA Mint New Delhi

Mint New Delhi

Mint New Delhi

What do festive sales say about e-commerce?

E-commerce slowed in India in 2024, and was tepid in the first half of 2025. While festive sales usually buoyed e-commerce each year, the last two years have been muted. Will it be different this season?

time to read

2 mins

September 29, 2025

Mint New Delhi

America's drug daze

Only a sliver of India's pharmaceutical exports to the US, placed at roughly $10.5 billion in 2024-25, appears to face the 100% tariff hurdle likely to be erected this week by American President Donald Trump.

time to read

1 min

September 29, 2025

Mint New Delhi

Mint New Delhi

H-1B row, tariffs, FPI exit may sting rupee

Trump hit on remittances, exports; FPI selloff adds to pressure

time to read

2 mins

September 29, 2025

Mint New Delhi

REPO RATE CUTS ARE LOST IN TRANSMISSION

Since February, the Reserve Bank of India (RBI) has lowered the repo rate by 100 basis points.

time to read

3 mins

September 29, 2025

Mint New Delhi

Mint New Delhi

Fabindia sued by subsidiary founders over exit clause

The co-founders of Fabindia Ltd's personal care subsidiary, Biome Life Sciences India Pvt. Ltd, have sued the apparel retailer in the Delhi high court, seeking to enforce an exit clause they say value their shares at ₹196.16 crore.

time to read

3 mins

September 29, 2025

Mint New Delhi

Mint New Delhi

US senators mount scrutiny on IT cos

Even as US president Donald Trump's steep hike in H-1B visa fee threatens to hit Indian software services providers, US lawmakers and agencies have separately intensified scrutiny of the offshoring sector.

time to read

3 mins

September 29, 2025

Mint New Delhi

A plan to hunt down digital arrest crooks takes shape

To crack down on surging online financial frauds such as 'digital arrests', a parliamentary panel has recommended that banks use government-issued IDs to trace, freeze and blacklist mule accounts siphoning crores of rupees. Experts call it a crucial first step, but banks warn implementation will be difficult.

time to read

3 mins

September 26, 2025

Mint New Delhi

Why this is the toughest test yet for Indian shrimp

As if the 50% tariff imposed by the US was not debilitating enough, Indian shrimp exporters are staring at an additional anti-dumping duty of as much as 40%. How will this impact exporters and the 16 million people dependent on the seafood sector? Mint explains:

time to read

2 mins

September 26, 2025

Mint New Delhi

Mint New Delhi

HI-B crisis sparks legal scramble for new HR solutions

Law firms and corporations are racing to tackle the human resources impact of the vexed H-1B matter, after US President Donald Trump's latest immigration crackdown threw India's $283 billion IT sector into turmoil.

time to read

3 mins

September 26, 2025

Mint New Delhi

CAFE-3 pitches big relief for small cars

Lower fleet-wise emissions for small cars in latest BEE draft

time to read

4 mins

September 26, 2025

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