Prashant Agnihotri (Assistant Manager HR) 29 March 2019
Dear Experts,
I have always received good guidance from this forum, looking forward for another better experience. Thanks in Advance!
I want to support someone who is in hand to mouth and can't earn for survival himself.
1. Can I collect money from my friend circle (in my savings account) and help the needy?
2. Can this collection be regular if needed?
3. If I do so, is the amount taxable for me?
4. If yes (point 3), how much I need to pay as tax and under which section of tax law?
Rama chary Rachakonda (Secunderabad/Highcourt practice watsapp no.9989324294 ) 29 March 2019
Under charity society only you can do that. First register your charity society under societies law in your state.
Prashant Agnihotri (Assistant Manager HR) 29 March 2019
Thanks! It is a year or two process. Creating society will involve lot of politics too...I don't want to take it that way...it is help someone only.
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