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articleship stipend

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(Querist)
28 August 2009 hello, i want to know if the stipend received during the ca articleship is taxable in the hands of the article or exempt? and if exempt under which section? hope anybody would answer my question and help me out. thanks in anticipation
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Navin

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Navin (Expert)
28 August 2009 there is no exemption under income tax act exempting the stipend. Further i dont think taxing it will make a difference as you anywys cant do any other business so ur income will not exceed the basic limit under it act.
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Krunal Raichura

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Krunal Raichura (Expert)
28 August 2009 Stipend is not taxable. There is a case law on the same which has been posted in the forums as well as share files. Kindly refer to the same.
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