Research

This query is : Resolved

AvinasH (Querist)
Follow

07 February 2011 Amount received in the name of Research Rs. 10,00,000/- ..whether it will be exempt under any section of income tax act 1961.
Amount is received from ICAI .

Kapil Gupta

Kapil Gupta (Expert)
Follow

08 February 2011 To whom the amount is received?
Whether the assessee is notified by the taxation authorities for conducting the research?

Guest

Guest (Expert)

09 February 2011 It is taxable income.

Message likes : 1 times

AvinasH

AvinasH (Querist)
Follow

16 March 2011 @ Karan :-
Amount is rceived by individual.
No the individual is not notified by tax authorities.
I want ask whether it can be exempt under any su-section of Section 10 of IT Act. 1961

Asha Kanta Sharma online

Asha Kanta Sharma online

(Expert)
Follow

21 July 2025 Thanks for the clarification. Since the amount of ₹10,00,000 is received by an individual from ICAI in the name of "Research", here’s a breakdown of how it is treated under the Income Tax Act, 1961:

🔍 1. Is it Exempt Under Section 10?
The short answer: No, it is not exempt under Section 10, unless specific conditions are met, which in your case are not fulfilled.

✳️ Section 10(21) – Income of a Scientific Research Association:
Exempts income of approved and notified research associations.

Your case doesn't apply — the individual is not a notified research association or institution under Section 35 or Section 10(21).

🔍 2. Taxability of Research Grant Received by Individual
Since:

The amount is received by an individual (not a notified institution).

There is no specific exemption notified for this individual under the IT Act.

The payment is from ICAI, a professional body.

➤ It will likely be treated as:
🔸 Income from Other Sources – if it's a one-time grant with no commercial contract or services rendered.
OR

🔸 Professional Income – if the research is part of a professional engagement (e.g. ICAI paid you to write a research paper or report).

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