Research
This query is : Resolved
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 .
Amount is received from ICAI .
08 February 2011
To whom the amount is received?
Whether the assessee is notified by the taxation authorities for conducting the research?
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
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
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
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).
🔍 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
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Section 194JA & JB Income which ITR Form to use
- Pass word to open justification report for Q1 for FY 2026-27
- PPF interest-As Exempt Income disclosure
- Under construction property in ITR
- Scrutiny and reopening of past returns
- Booth for sales promotion
- Upload Level ValidationITR3Category of Defect B/D
- Building tax payment deduction in rental Income
- F & O PROFIT REPORTING FOR AY 2026-27
- Difference in GSTR3B system generated which is correct and actual Payment it asks
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
