About stipend received

As per Section 10(16) IT Act, stipend is a scholarship to meet the expenses of Education. So it is fully exempted from IT.

There is a different view on this matter regarding Exempt u/s 10(16) of IT act, as Scholarship.

As per my view, it's not a Scholarship.
Scholarship is given free of cost to meet the Expenses of study of students, where a stipend is paid for your work, yes, there is a element of learning, but student is paid for his/her work as like other employees of Company.

So, it can't be considered as scholarship, and we can't take Exemption as scholarship.

It's taxable as "income from other sources" as there is no employee employer relationship between article and Principal.

But, if TDS is deducted u/s 192 than it's taxable as "Salaries"