Khushboo Savla (Article trainee) (35 Points)
04 February 2010Whether stipend received as industrial trainee is exempt or taxable?
Please help
Thanks in advance.
MOHIT SHARMA
(Student)
(40 Points)
Replied 04 February 2010
hi,
Stipend received by an industrial trainee is completely exempt.
Regards,
Mohit Sharma
NTPC LTD.(Industrial Trainee)
Khushboo Savla
(Article trainee)
(35 Points)
Replied 04 February 2010
Please provide any case law or section under which it is exempt.
Thanxs
Amir
(Learner)
(4016 Points)
Replied 04 February 2010
Dear Khusboo,
PFA
Ashish M
(Chartered Accountant)
(2731 Points)
Replied 04 February 2010
IT IS TAX EXEMPT U/S 10(16) OF THE IT ACT, 1961.
Jatin Singh Negi
(Country Analyst )
(505 Points)
Replied 04 February 2010
sivaram
(Asst Mgr-Taxation)
(6918 Points)
Replied 05 February 2010
Thanks Mr Amir for the attachment
Balkrishna
(Article Clerk)
(22 Points)
Replied 05 February 2010
whether it is taxable even If same stipend is received after completing CA course for balance articleship ??
Amir
(Learner)
(4016 Points)
Replied 05 February 2010
Dear Balakrishna,
I also doubt that the case will hold good in the remaining period of articleship after qualifying exams.........
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
CAclubindia
