Exemption

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Querist : Anonymous

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Querist : Anonymous (Querist)
31 December 2011 I want to whether the follwoing income would be exempt from Income tax under any section.

Research project granted by a professional institute.
Research about - "Independence of Directors in Company". The project was granted for 9 lacs.

No TDS was deducted by the professional institute.

Let me know whether this income can be exempted from tax.

31 December 2011 The income is not exempt for every assessee. The status of recipient may help us to clarify in detail.

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Querist : Anonymous

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Querist : Anonymous (Querist)
31 December 2011 Recipient is Individual

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Querist : Anonymous

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Querist : Anonymous (Querist)
31 December 2011 please also specify the section if exemption is available.

31 December 2011 The Income is taxable in the hands of the Individual U/s 28(i).


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