Stipend
This query is : Resolved
28 December 2011
Yes stipend is taxable. If the stipend exceeds the maximum amount not chargeable to tax, then tax liability arises on such stipend.
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28 December 2011
Agree with expert.
Stipend is taxable if total income exceeds maximum amount not chargeable to tax, under the head income from Other Sources if employer and employee relation ship not exist otherwise taxable under the head salaries.
If you establish that stipend is for meeting cost of education and books you can claim exemption u/s 10(16).
Stipend is taxable if total income exceeds maximum amount not chargeable to tax, under the head income from Other Sources if employer and employee relation ship not exist otherwise taxable under the head salaries.
If you establish that stipend is for meeting cost of education and books you can claim exemption u/s 10(16).
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