Is stipends taxable?
This query is : Resolved
19 July 2013
SIR,
STIPEND RECEIVED BY A MEDICAL STUDENT IS Rs. 288000. THE AMOUNT IS RECEIVED THROUGH BANK. IS IT TAXABLE, IF YES, UNDER WHICH HEAD AND CAN CLAIM ANY EXPENSES?
STIPEND RECEIVED BY A MEDICAL STUDENT IS Rs. 288000. THE AMOUNT IS RECEIVED THROUGH BANK. IS IT TAXABLE, IF YES, UNDER WHICH HEAD AND CAN CLAIM ANY EXPENSES?
CA PARAS BAFNA
(Expert)
19 July 2013
It is taxable as Salary Income.
.
Also see discussion on this topic at-
https://www.caclubindia.com/forum/stipend-of-doctor-taxable-or-not--182921.asp
.
Also see discussion on this topic at-
https://www.caclubindia.com/forum/stipend-of-doctor-taxable-or-not--182921.asp
CA Mehta Ankur N.
(Expert)
19 July 2013
I Think stipend is just like educational scholarship & Exempt u.s 10(16).
As stipend to CA Article is exempt........ In same way stipend to doctor is also exempt......
As stipend to CA Article is exempt........ In same way stipend to doctor is also exempt......
CA PARAS BAFNA
(Expert)
19 July 2013
A simple logical approach can be applied here-
.
Whether the Payer has any liability to deduct TDS upon such payment to the students ?
.
Whether the amount is paid to meet the cost of education or is forming part of the compensation for the services ?
.
Whether stipend payment for excess leave taken by the student is deducted from the emoluments or not ?
Student remains a student on leave also- but why lesser scholarship is given ?
.
So, it can be decided from the facts and circumstances of the case only.
.
.
Whether the Payer has any liability to deduct TDS upon such payment to the students ?
.
Whether the amount is paid to meet the cost of education or is forming part of the compensation for the services ?
.
Whether stipend payment for excess leave taken by the student is deducted from the emoluments or not ?
Student remains a student on leave also- but why lesser scholarship is given ?
.
So, it can be decided from the facts and circumstances of the case only.
.
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