Sir,
if any principle pays Rs. 20000 per month as stipend during article ship training then what will be TDS rate for tax dedeuction and in which section?
Vikash Mangal
Menu
ABOUT TDS
Replies (3)
Tax is not deductible because it does not attract any section
Eg. It cannot attract sec.192, because there is no employer-employee relationship
Vikash,
It has been held in the case of Sudhir Kumar Sharma vs ITO [1983] 15 Taxmann 100 that stipend income is not taxable. Hence no TDS is required to be deducted.
No TDS is Deducted.as Not Specified Any Where in IT Act.........
and One Case of Sudhir Kuma Sharma I M Attaching Here.In That Stipend is Exempt Too......U/S 10 (16) in Year 1983.But It Withdrawn ( Not Sure Known The Year in That Exemption Withdrawn.)
Recent Topics :
- Form 146 required
- Rule 86(B) Applicability
- ROC FILINGS FY2025-26
- Mismatch in 26AS
- How Can a Trader Utilise Approximately ₹1.20
- How Can Law Students Present Papers at Conferences
- On which amount 200% penalty under section 270A is
- RECEIVED INTIMATION U/S 399 FOR TDS PAYMENT ON PRO
- How do CA firms track SEBI/AMFI circulars and dead
- Jurisdictional validity of Sec 148 notice after fa
Related Topics :
CAclubindia
