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exemption

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11 December 2009 jo stipend articles ko milta hai, kya ye exempt
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
11 December 2009 Stiphend ,eventhough income in the hands of the student,would not be included in the taxable total income since it is given to meet the cost of education . So exemption can be claimed under section 10(16).
Madras High court decision in Dr. V. Mahadevan Vs. CIT (1990) 51 Taxman 411 can be relied upon to substantiate the above view.
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