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Crowdfunded medical aid: What's taxable?

Mint Kolkata

|

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.

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Mint Kolkata

Indian IT slashes spending on lobbying in the US

Indian IT slashes spending on lobbying in the US had incurred lobbying costs of $90,000 in 2022 as against $210,000 in 2020. It has not employed any lobbying services since 2022.

time to read

1 mins

November 29, 2025

Mint Kolkata

Apple’s 5th India store to open in Noida soon

Apple announced on Friday it will open its fifth retail store in India on 1 December in Noida's DLF Mall of India—marking its second store in the National Capital Region after Delhi, which opened in April 2023.

time to read

1 min

November 29, 2025

Mint Kolkata

Mint Kolkata

Inside Bengaluru's quiet recycling revolution

Stories from the alleys and gullies of India

time to read

4 mins

November 29, 2025

Mint Kolkata

Mint Kolkata

The beauty and sadness of living in the hills

In ‘Called by the Hills’, her first book-length non-fiction work, Anuradha Roy pays a literary and painterly tribute to her home in the Himalayas

time to read

5 mins

November 29, 2025

Mint Kolkata

Fiscal deficit widens on higher capex, lower tax

India’s fiscal deficit for the April-October period rose on higher capital expenditure and lower net tax revenue.

time to read

1 min

November 29, 2025

Mint Kolkata

Mint Kolkata

Inside Bengaluru’s quiet recycling revolution

Stories from the alleys and gullies of India

time to read

5 mins

November 29, 2025

Mint Kolkata

Mint Kolkata

'The Family Man' S3: Agent down

The new season of the popular spy thriller series starring Manoj Bajpayee feels like a hedged bet

time to read

4 mins

November 29, 2025

Mint Kolkata

Fiscal deficit up on capex, lower tax

during the period, or 55.1% of the annual estimate for FY26, compared to %4.67 trillion or 42% ofthe annual estimate during the year-ago period.

time to read

1 min

November 29, 2025

Mint Kolkata

Equity treatment for Reits from 1 Jan

From 1 January 2026, any money put into Reits (real estate investment funds) by mutual funds and specialized investment funds (SIFs) will be treated as equity-linked investments.

time to read

1 min

November 29, 2025

Mint Kolkata

Mint Kolkata

Former DBS CEO is Temasek India’s new non-exec chair

Piyush Gupta, the former chief executive of DBS Group, has joined Singaporean state-owned multinational investment firm Temasek as India chairman, albeit in a non-executive role, and will work with Ravi Lambah, head of India and strategic initiatives, the firm said, He will join on 1 December.

time to read

1 mins

November 29, 2025

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