Taxability of scholarship received for m.tech
This query is : Resolved
pankaj sahu
(Querist)
28 July 2017
kindly clarify whether scholarship received for research work in m.tech is exempted under section 10(16).
what if assessee is having income as professional fees of rs 200000 in a F.Y. in which scholarship received.
K Srinivas, CMA CS
(Expert)
28 July 2017
Yes, scholarship received for research work is exempt under 10(16). One has to ensure that the relationship between the assessee and the donor is that of a donor donee relationship and not any other beneficial relationship like principal - client or employer employee.
K Srinivas, CMA CS
(Expert)
28 July 2017
Professional income will be taxed separately as any other income
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pankaj sahu
(Querist)
28 July 2017
dear sir
thanks for your valuable reply.
is there any condition existed under section 10(16) that exemption from scholarship will be granted to assessee only if assessee is not having income from any other sources?
thanks for your valuable reply.
is there any condition existed under section 10(16) that exemption from scholarship will be granted to assessee only if assessee is not having income from any other sources?
K Srinivas, CMA CS
(Expert)
28 July 2017
No such condition exists.
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