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sripend received from firm taxable

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(Querist)
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
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
12 June 2009 Stipend of a CA student is exempt U/s 10(16) of the Income tax Act,1961.
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CA.Tarun Maheshwari

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CA.Tarun Maheshwari (Expert)
12 June 2009 I support the expert.
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CA Nitin Wadhwani

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CA Nitin Wadhwani (Expert)
13 June 2009 Stipend Income is taxable under Sec.17(1) of the Indian Income Tax Act, 1961.
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Ca Anand Dubey

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Ca Anand Dubey (Expert)
13 June 2009 Taxable under "other sources", not as salary as employer employee relation doesnt exist
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CA Nitin Wadhwani

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CA Nitin Wadhwani (Expert)
13 June 2009 It is taxable under Income from salary;
Employer-Employee relationship does exists.No doubts in that.
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