Tax applicability
This query is : Resolved
Jignesh R Satapara
(Querist)
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???
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???
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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