Manmohan ACA, CS (Chartered Accountant ) (14243 Points)
10 July 2009whether the articleship stipend should be taxable as salary , or income from other sources.
I think it shall be income from other sources as there is no employer employee relation, rather there is trainer -trainee relation
what u say
Deepak.R
(CA - PCC Student / Articled assistant)
(177 Points)
Replied 10 July 2009
Hi..
me too having same doubt.
but my view is, Its taxable under salaries if its given for the work done or even it can be claimed as deduction u/s10 [ 16 ] [ not sure abt the section ] if stipend is given for the purpose of higher studies..
its purely of my opinion.. i wants experts to answer this query..,
RAKESH
(Almost CA)
(2199 Points)
Replied 10 July 2009
Stipend earned is not taxable . It is an exempt income .
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