Tax liability

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

29 November 2011 RAM MURTY, A BEGGAR, BEGS MANEY FROM PEOPLE AND HE IS ABLE TO COLLECT A SUM OF RS. 256000/-

TELL ME IN WHICH HEAD HIS INCOME WILL BE TAXABLE.

IS INDIAN GOVERNMENT ALLOWS ANY EXEMPTION TO THESE TYPES OF BEGGARS.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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30 November 2011 Beggars income is coming out through a vocation.
Section 2(36) defines as "profession" includes vocation.

You can show his income under the head Income from Business & Profession.

.
Indian Govt does not allow any exemption to
any type of beggars as it do not want to promote such activity.
.

Message likes : 1 times

sunil nanda

sunil nanda (Expert)
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02 December 2011 Sir, this is very awesome answer and i would like to thank you once again..

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Querist : Anonymous

Querist : Anonymous (Querist)

02 December 2011 dear paras bafna,

if a person works for whole night and earns (business) rs.200000/- and in day he beags maney from people. his income from that source is rs.150000,

what would be ur answer