respected all,
please advice me regarding one problem that, my brother's father suffer from paralysis diesease and he had applied online for help and received Rs. 150000/-, so whether these amount is taxable, or to credit to ledger of medical exps... as total medical exps incurred is Rs. 900000/-.
Menu
Taxability of online help towards medical exps of family member
Replies (10)
Only medical expenses is deductible u/s 80D upto 50000 rupees
I think it is to be taxable u/s 56
Through online help he collected 150000/- and which is more than 50000/- in aggregate for the purpose of Gift. as the amount is exceeding 50000/- the entire amount of 1.50 lakhs will be included as income from other sources in the return of your brother's father.
But amount received in bank account of my brother because father was hospitalised.
so what will be the taxability in hands of father and son..?
so what will be the taxability in hands of father and son..?
Transfer money to your father's account. it's taxable in father's account.
Ok that means that amount is not taxable in the hands of my brother...?
Better to receive help in name of father's account.
Sorry sir i cant understood whats to do.
Don't worry. You transfer to father's account. it will be considered in father's name.
Ok thank you sir
Recent Threads
- Form 16 format
- 17(5) Blocked ITC
- Transfer of equity shares to original owner
- Login credentials and payment acknowledgement not
- Export sales not realised payment not received fro
- Capital gain account amount utilisation
- Form 26QB – Section 194-IA: TDS on Full Cons
- Indexation Benefit available or not on Calculation
- Documents for return exhibition material
- Can I set off equity losses(both short term loss a
Related Threads
CAclubindia
