Money received while doing internship
This query is : Resolved
27 July 2013
Suppose i am an Engineering student,doing an internship in XYZ company for 6 month and i am being payed 10,000/- month. and the company is deducting TDS u/s 194J
I want know under which head will my income would be considered and Can i avail any deduction for the same.
I want know under which head will my income would be considered and Can i avail any deduction for the same.
29 July 2013
If it is stipend it is not taxable. but the company deducting TDS u/s.194J means they are treating you as professional only. need to show the Income as Income from Profession, no deduction available on that income
29 July 2013
Since the amount is monthly Rs.10000/- your income is below the taxable limit only,. you can file the return and take the refund of TDS deducted
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