tax on scholarship
This query is : Resolved
13 July 2009
A sum of amt is received to sportmen from Delhi Government as a scholar ship
Are this income is taxable or exempt in income tax Act
If taxable under which section And which head of income
And If exempt uder which Section
waiting for reply
thank you
Have a nice day
Are this income is taxable or exempt in income tax Act
If taxable under which section And which head of income
And If exempt uder which Section
waiting for reply
thank you
Have a nice day
13 July 2009
Scholarship amount received to meet cost of education is exempt u/s 10(16) of the Income tax act,1961. If it is not to meet cost of education scholarship is taxable under the head 'Income from other sources'.
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