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?
Menu
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)
Recent Topics :
- CAPITAL GAIN REG
- Built a simple tool to automate client document fo
- Capital Gain on Sale of SRA Allotted Flat Received
- Discrepancy in Auto populated figures in GSTR1 of
- What should I do after receiving a GST Show Cause
- Discuss and Download CA Inter Question Paper Septe
- Hi experts needed some help
- Gift of Immovable Property u/s 92 of Income Tax Ac
- NSE BSE Pre-open session changes from 7 September
- Financial statements for non corporate entities
Related Topics :
CAclubindia
