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Stipend

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(Querist)
16 January 2014 whether stipend taxable or not? pls reply
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CA Suresh Jain

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CA Suresh Jain (Expert)
17 January 2014 Stipend is taxable income.
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Mahender Garg

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Mahender Garg (Expert)
17 January 2014 When u receive stipend it clearly means your not an employee of the principal.. hence the question of employer employee does not arise.. It SURELY CAN NOT BE regarded as Salary... It is completely exempt under IT Act u/s 16... if reqd refer case law Ratnakar Rao (A) Vs. Additional Commissioner of Income-tax (1981) 128 ITR 0527.
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