taxablity of stipend

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anupam (Querist)
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19 June 2008 if a person(not a CA article) is recieving a stipend from co. say RS.75000 pm whether it is taxable or exempt.
plz provide the section
and what about if CA article is recieving this

CA. Yayati Tyagi

CA. Yayati Tyagi (Expert)
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19 June 2008 in both cases taxable as salary.

CA. Yayati Tyagi

CA. Yayati Tyagi (Expert)
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19 June 2008 open

anupam

anupam (Querist)
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19 June 2008 but there is no employer employee realtionship.
which section covers stipend

CA. Yayati Tyagi

CA. Yayati Tyagi (Expert)
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19 June 2008 institute clearly states at every place member as "employer". then how can u say there is no employer-employee relationship.

PC-www.bharadwajinstitute.com

PC-www.bharadwajinstitute.com (Expert)
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19 June 2008 It is taxable under salary and deductions/exemptions are applicable

anupam

anupam (Querist)
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20 June 2008 epmployer employee relationship is not there because

1.there is an agreement of employment(102 is not an employemnt agreement)
2.plactically employee gets employee id and all prevelages which a normal employee gets.
3. no PF a/c or grautity is enjoyed by trainee.

pushpendra

pushpendra (Expert)
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20 June 2008 taxable under the heads income from other sources

CA. Yayati Tyagi

CA. Yayati Tyagi (Expert)
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23 June 2008 hi Anupam,

1. why 102 is not an employment agreement? it cleraly provide for article to serve for 3.5 years under that employer for consideration of stipend.

2. not in every company the employee get employee id. looks u never been in any small or medium size company. which privilage an article don't get, pls let me know.

3. p.f. and gratuity are applicable if some conditions prescribed in respective acts are complied with. but i never seen any ca firm complying with these acts. perhaps they avoid applicability of these acts thru other means.

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