Is stipend exempt from being taxed?

This query is : Resolved

F M Aquib Javed R A (Querist)
Follow

08 February 2016 Is stipend received from medical college become taxable? Is there any exemption available under the provision of income tax act?

CA CMA CS Ram Pavan Kumar Melam

CA CMA CS Ram Pavan Kumar Melam (Expert)
Follow

08 February 2016 Scholarship received other than from colleges / universities etc. form part of salary and taxable.

Stipend however is not a scholarship.

Doctors receive stipend at hospitals shall be taxable, as doctors on a traineeship perform duties similar to other full-time doctors and the work experience from the traineeship can further their career.

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)
Follow

08 February 2016 If stipend received above taxable limit, than it is taxable.

CA CMA CS Ram Pavan Kumar Melam

CA CMA CS Ram Pavan Kumar Melam (Expert)
Follow

09 February 2016 Stipend received above the basic exemption limit during the previous year is taxable. However, scholarships granted to meet the cost of education is exempt u/s 10(16).

F M Aquib Javed R A

F M Aquib Javed R A (Querist)
Follow

09 February 2016 thank you so much sir for helping me.

CA CMA CS Ram Pavan Kumar Melam

CA CMA CS Ram Pavan Kumar Melam (Expert)
Follow

09 February 2016 If you the reply is useful to you, please score me by thanking (Thank user option).

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now