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Taxability

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(Querist)
25 October 2013 Whether Stipend is a taxable income or an exempt income?
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CA Mehta Ankur N.

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CA Mehta Ankur N. (Expert)
25 October 2013 Exempt u/s 10(16).
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Ganeshbabu K

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Ganeshbabu K (Expert)
25 October 2013 If the stipend is granted for furthering education or gaining knowledge same can be claimed exemption under section 10(16) of income tax act 1961

in this regard decesion of karnataka high court in A ratnakar Vs.addl.CIT can be applied
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this was also followed in the case of ITOVs G.N.ramachandran
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