Funny tax question

Page no : 2

CMA K SIVA KUMAR (Jr. Executive (Accounts)) (79 Points)
Replied 01 February 2012

exemption limit per person = 2 kidneys

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CA VISHAL SINGH (CHARTERED ACCOUNTANT) (297 Points)
Replied 01 February 2012

i dont understand why u r behind kidney

Mrudulatha (Article Trainee) (38 Points)
Replied 01 February 2012

my God so many have said income from other sources. it's not taxable as it is a capital receipt!

1 Like

CMA. CS. Sanjay Gupta ("PROUD TO BE AN INDIAN") (114225 Points)
Replied 01 February 2012

Originally posted by : VISHAL SINGH
	i dont understand why u r behind kidney

Hahahahaha...Really funny...After this post Income Tax Authority need a rethink on Tax Laws...

1 Like

CA. RAVIKUMAR (Chartered accountant) (1589 Points)
Replied 01 February 2012

Income from other source

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mahaveer dhelariya (devta) (practisioner) (692 Points)
Replied 02 February 2012

how to apply "eunuch" person's pan card. means gender kya likhe?

mahaveer dhelariya (devta) (practisioner) (692 Points)
Replied 02 February 2012

how to apply eunuch (hinjara) person's pan card. means gender kya likhe?

sandesh (Articles) (53 Points)
Replied 02 February 2012

Dear ,

Please understand Income Tax , Income tax does not goes in to income illegal ot not.. when you earn something befor classified head of income , go look at sec 2 Income defination which exustevely defined wheather this condition is satisfied, then proceed for classification of income .

However , prople is saying income illegal or etc, i can assure that it is matter of fact. we are in india please let juridication define which income is illegal or vice versa.

THANKS

sANDESH jADHAV

1 Like

kishore (STUDENT(IPCC)) (867 Points)
Replied 02 February 2012

No body can value the price of kidney donating the kidney is his personal we cant say its value is Rs 50 lacs or 1 cr., the value of kidney is infinity so its not a capital gain so how much he took by selling his kidney its not taxable

1 Like

Vijayalakshmi.K (ICWA Final ) (324 Points)
Replied 02 February 2012

Originally posted by : rahul rai
	according to income tax act, any kind of income (except those exmpted by law) is taxable.. it has nothing to do with its legality or illegality.... so its taxable under income from other sources...

I agree with this

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Ameya Makarand Lonkar (CA Final Student) (56 Points)
Replied 02 February 2012

In my opinion, even though sale of kidney is illegal, it is taxable under income from other sources. I think, it is not a capital asset and thus would not attract capital gain.

Rengasamy.R (CA Final) (228 Points)
Replied 02 February 2012

Really This very funny questions, i ever seen this type of questions in CCI

1 Like

(Guest)

what a question.i had never thought of this way.thanks for sharing such a question and for such awesome answers.

1 Like

Vinod U Bohra (Sole proprietor) (143 Points)
Replied 02 February 2012

kidney,suppose considered for business, its personal effects excluded from capital assets like wearing apparel.This business is illegal.But,Income doesnot matter whether it is legal or illegal.So this is exempt income as per me.