Taxability of fellowship amt received
This query is : Resolved
25 March 2019
Assessee received rs 15,00,000/- as fellowship amount from govt of india through recognised university for research and study in foreign country. What will be the taxability of this amount
25 March 2019
If actual amt spent will be deducted from amt received and balance will be taxable or all amt received will be exempt
25 March 2019
There are divergent views on the issue.
+ One is claim as fully exempt u/s 10(16) treating it as scholarship.
+ The other view is fellowship can't be equated with 10(16), hence fully taxable.
+ One is claim as fully exempt u/s 10(16) treating it as scholarship.
+ The other view is fellowship can't be equated with 10(16), hence fully taxable.
25 March 2019
Thank you very much Sir
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