While filing the return of article assistant , we should include stipend income as taxable income ??
if it is taxable under which head should classify
1.salary
2. other sources
if it is exempt ???
then under which section where should we claim in itr
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Is article stipend taxable under income tax??
Replies (9)
Quick Summary
It is taxable under head salary.
I don't think CA's giving form 16 to articles assistant but if they giving then in the head salary
if no form 16 then it's comes under income from other sources
if it is exempted then in EI session of itr
if no form 16 then it's comes under income from other sources
if it is exempted then in EI session of itr
Any student who is pursuing the course of CA and doing articleship, receives a stipend from his principal. This stipend amount is governed by an act and it is provided to CA students to meet the expenses of material and exam fees. Thus it falls under the category of a scholarship and is exempt from tax.
Exempt u/s 10(16) of IT act.
Exempt u/s 10(16) of IT act.
Other sources
It is completely exempt income
Exempted
I am sorry for wrong answer.
yes it will be exempted.
yes it will be exempted.
Not merged to income from salary !
Stipend is taxable. fully taxable. under IFOS.
it's not scholarship at all.
it's not scholarship at all.
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