TDS on stipend
This query is : Resolved
02 July 2009
TDS U/s 194 J has been deducted on my stipend as an industrial trainee. I had explained the co. that stipend is not taxable but they did not budge. Now to claim the TDS I would have to file ITR IV showing the stipend income as professional income? Is this appropriate?
Regds
Regds
02 July 2009
No
02 July 2009
Tax should have been deducted under Sec.192 as Stipend Income is taxable as Income From Salaries.
03 July 2009
section 192 clearly specifes that it TDS u/s 192 will be deducted only on the income which is taxbale under head salaey, since stipend is ot taxable as salary no tDS u/s 192 in stipend
05 July 2009
Hello! Thanks for the reply. So, which ITR form should I use if not ITR IV to claim refund of the TDS deducted out of my stipend U/s 194J.
Other than the stipend income I have a meagre amt of interest income.
Thanks in advance
Regds
Other than the stipend income I have a meagre amt of interest income.
Thanks in advance
Regds
05 July 2009
Yes.
Since tax is wrongly deducted on 194J you should ITR-4 and also you can claim the expenses which you have incurred for earning such stipend such as books, conveyance expenses etc.
Since tax is wrongly deducted on 194J you should ITR-4 and also you can claim the expenses which you have incurred for earning such stipend such as books, conveyance expenses etc.
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