Is stipend considered as taxable income or is it considerd to be tax free. Please give me exact details for the same.
Thanks in advance
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Replies (9)
Stipend received from Principal is Taxable under the heads salary because relationship between principal and trainee exist as empolyer and empolyee working on some condition.
thanks sudhir
Since there is no Employee Employer relationship the said income would not fall under head “Income from Salaries” and will be taxable under the head “ Income from Other Sources”
Stipend is exempt from tax. Please see the search files section for the copy of the relevant case law.
| Originally posted by :Krunal Raichura | ||
| " | Stipend is exempt from tax. Please see the search files section for the copy of the relevant case law. | " |
YA-STIPEND IS EXEMPT -SEE RELEVANT CASE IN FILE SECTION POSTED BY CA-RAJEEV AGARWAL
thanks a lot.
Thanks
Stipend is exempt from tax.... Upto a reasonable extent..As it is deemed to be scholarship received for meeting costs of education...
Thank you for all
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