03 May 2008
Dear sir, I have a quarry about taxability of stipend. An indivisual Mr A is under training & getting Rs 30000/- Pm as stipend. Now i want to ask that whether such sum is taxable in the hand of trainee.If taxable then under which head it will cover and whether trainer is liable to deduct the tax (TDS) on such sum. Plese email me the answer at "ankit740@gmail.com" Thanking You Ankit kansal
05 May 2008
But you can always claim exemption u/s 10(16) of the income tax act. Though it is like salary the relationship is not that of Employer & employee. It is tat of Apprenticeship and is governed by that .... So you can claim exemption under that.TDS need not be deducted acc to the sec refered by me.
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