Mr. X recieved Rs. 30LAKS by Govt. as educational scholarship. Rs. 20LAKHS is paid as a fees. Remaining is in Bank account. Is that amount Taxable if not utilised as fees?
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Educational Schlarship
Replies (2)
no... Scholarships are exempt.... Section i think 10(16)..... Not sure... But it is exempt... thats sure..
Mr.Nirav
In feel, Scholarship received is exempt from tax sec 10(16)......but any income arising from the unutilised amount is taxable.....
Any scholarship granted to meet the cost of education.Section 10(16)
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