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Stipend income

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(Querist)
30 March 2012 Respected sir,
Please tell me.
Can i build up capital by showing stipend income which is exempt u/s10(16)??
Or
i have to file NIL return by claiming expenses on books & study.
(my friend getting 22000 per month in cash from hospital and he is also studying there)
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Pankaj Gandhi Jaiswal

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Pankaj Gandhi Jaiswal (Expert)
01 April 2012 Dear Shailesh, Stipend is taxable what is tax free under 10(16) is scholarship which was meant for support to education. Stipend & scholarship both are different thing.
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sailesh

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sailesh (Querist)
02 April 2012 Thanks you pankaj...
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