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Tax applicability

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31 July 2012 Whether stipend received by the Medical Student is chargeable to tax or it is exempt from tax???
Eg. : total stipend received during the year is say Rs.325000.
if it is chargeable to tax, then whether any expenditure is deductible from it???
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CA Lokesh Pokharna

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CA Lokesh Pokharna (Expert)
31 July 2012 yes its come in the ambit of taxation hence chargeable to tax, exp. may not be allowable because its in the nature of job & can be treated as salary.....wait for other views
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