Exemption of grant
This query is : Resolved
31 December 2011
Assessee the individual have received grant from section 25 company for carrying out research activities.
This company is recognised as a scientific and Research organisation U/s 35(i) of Income tax acy 1961.
Is the grant received by the individual taxable in his hand.
This company is recognised as a scientific and Research organisation U/s 35(i) of Income tax acy 1961.
Is the grant received by the individual taxable in his hand.
01 January 2012
Please clarify the purpose of Grant.
.
If it is the form of Scholarship U/s 10(16) it is exempt.
.
In other cases it will be taxable in the hands of the Recipient Individual.
.
.
If it is the form of Scholarship U/s 10(16) it is exempt.
.
In other cases it will be taxable in the hands of the Recipient Individual.
.
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