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stapend recd amt is taxable ,or non taxable (u/s)

This query is : Resolved 
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(Querist)
26 March 2011 stapend recd from educational
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CA. Lohith Jagadeesh

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CA. Lohith Jagadeesh (Expert)
27 March 2011 Hi,

As there is no Employer & Employee Relationship between the payer & payee it cannot be taxable under the head " Salaries". Therefore it has to be taxed under the "Head Income from other Sources".

However if the Income Recieved does not cross the Basic Exemption Limit, than it shall not be taxable.

Thank you

Regards

CA. Lohith. J
B.Com,ACA,CS,(ICWA),SAPM Hons,ITF Hons
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