The money received by a person, though referred to as a donation for medical purposes, is treated as gift under income tax laws, Moneycontrol reported, citing experts. However, if amount crossed the ₹50,000 limit, the entire amount becomes taxable for recipient. If amount was received separately in different family members' names and each stays within ₹50,000 limit, it remains tax-free.
short by
Dharini Mudgal /
02:05 pm on
27 Oct