Hi all,
I want to know whether Professional Tax (P.T.) is applicable to Stipend.... ?
Either stipened paid can be count as a salary ? if yes, under which circumstances ? if no, the exempt under which section/laws ?
Trushal (CA Final Student/Articles) (23 Points)
29 May 2008Hi all,
I want to know whether Professional Tax (P.T.) is applicable to Stipend.... ?
Either stipened paid can be count as a salary ? if yes, under which circumstances ? if no, the exempt under which section/laws ?
Shekar
(CA & LCS )
(1109 Points)
Replied 29 May 2008
Hi...
The stipend paid is not liable to profession tax..
SANDEEP AGGARWAL
(SELF PRACTICE)
(99 Points)
Replied 29 May 2008
hi, yar stipend is not a salary because salary is to be paid in respect of providing services and we (articles) do not provide services , we receive training. And u/s 10(16) of ICAI stipend is exempt.
ca namita
(student)
(25 Points)
Replied 29 May 2008
stipend is not liale for pt. it comes under the head income from other sources
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