TAX RELATED

This query is : Resolved

CA CMA CS VIRAG SHAH (Querist)
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03 June 2010 WHETHER STIFEND RECEIVED IN ARTICLESHIP IS TAXABLE INCOME UNDER OTHER SOURCE OR EXEMPTED INCOME UNDER SECTION 10(16) AS A SCHOLARSHIP ?

PLEASE REPLY URGENTLY.....................

PLEASE SPECIFY RELATED CASE LAWS ALSO..................

THANK YOU ALL IN ADVANCED.....................

CA Archana

CA Archana (Expert)
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03 June 2010 Its taxable under Income from other source...lets have other experts view too

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CA CMA CS VIRAG SHAH

CA CMA CS VIRAG SHAH (Querist)
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03 June 2010 THANKS MAM

BUT I THINK OTHER WAY AROUND........

CA Archana

CA Archana (Expert)
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03 June 2010 other way round means....u r confusing it with scholarship....but I am very clear its not scholarship.
Yes...You can take it as salary only....

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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03 June 2010 Sudhir Kumar Sharma Vs. ITO.

Exempted U/s 10(16).

Give me your email id i will mail you case law.

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CA. Gurdeep Singh Chawla

CA. Gurdeep Singh Chawla (Expert)
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03 June 2010
Exempted U/s 10(16)

CA Archana

CA Archana (Expert)
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04 June 2010 Please read the case law....its specifically related to stipend during CA article ship.
http://www.lawyersclubindia.com/forum/files/25_25_ca_articleship_stipend_10_16_exemption_case_law_1_.pdf