Scholarship given to Employee's children
This query is : Resolved
04 December 2008
What are the implication if a scholarship is given to on of the employee's child?
Whether the same is taxable in the hands of the concerned employee?
Whether the same is an admissible expense for the employer?
Whether the same is taxable in the hands of the concerned employee?
Whether the same is an admissible expense for the employer?
04 December 2008
1.Employee:-
Not a perquisite as per decision in CIT Vs.B.L.Garg (2007) 289 ITR 218(All).Hence exempted in the hands of employee.
2.Employer:-
Expenditure u/s 37(1).
3. Son:-
Exempted u/s 10(16).
Not a perquisite as per decision in CIT Vs.B.L.Garg (2007) 289 ITR 218(All).Hence exempted in the hands of employee.
2.Employer:-
Expenditure u/s 37(1).
3. Son:-
Exempted u/s 10(16).
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