sripend received from firm taxable
This query is : Resolved
12 June 2009
Suppose a C.A. Student receives stipend from his employer, is that stipend taxable in the hands of the article.The article is having other income which exceeds the basic exemption limit which are subject to tax.
For example Mr.X is having income from other sources Rs.155000 and is receiving a stipend of Rs.15000 P.A. will his stipend be included while computing his total income.
Kindly reply me soon
Thanks in advance
For example Mr.X is having income from other sources Rs.155000 and is receiving a stipend of Rs.15000 P.A. will his stipend be included while computing his total income.
Kindly reply me soon
Thanks in advance
12 June 2009
Stipend of a CA student is exempt U/s 10(16) of the Income tax Act,1961.
12 June 2009
I support the expert.
13 June 2009
Stipend Income is taxable under Sec.17(1) of the Indian Income Tax Act, 1961.
13 June 2009
Taxable under "other sources", not as salary as employer employee relation doesnt exist
13 June 2009
It is taxable under Income from salary;
Employer-Employee relationship does exists.No doubts in that.
Employer-Employee relationship does exists.No doubts in that.
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
- House Property Reporting in ITR
- Refund Annexure-B
- TDS Claim year
- Liable to deduct tds and 44ADA
- Rent lease agreement
- Refund of 20%pre-deposit paid for stay application
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- TDS Challan Code
- SGST balance is there in credit ledger how to adjust for cgst
- Internship/Academic shown in Salary Pay Slip of a Doctor
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
