OH ! SAME QUERY AGAIN....

ANSWER: THERE IS NO SPECIFIC EXEMPTION GIVEN TO THE STIPEND GIVEN TO CA STUDENTS SO ITS CLEAR THAT ITS TAXABLE.

Stipend, prima facie, should be treated as a scholarship and should be exempt,
since Sec. 10(16) exempts all ``scholarships granted to meet the cost of
education''. In CIT v V. K. Balachandran (1984) 147 ITR 4 (Mad), the amount
received as grant-in-aid and other fringe benefits from a foreign university,
though in the nature of salary, was found to be still exempt under Sec.
10(16). A similar medical scholarship from a foreign university during
training programmes was held to be exempt under Sec. 10(16) in A. Ratnakar Rao
v Addl. CIT (1981) 128 ITR 527 (Kar) and Dr. V. Mahadev v CIT (1990) 184 ITR
533 (Mad). In the latter case, it was held that since scholarship is exempt,
even if there be any savings therefrom, it need not be taxable. The Board has
clarified from time to time that various scholarships under different schemes
as research fellowships granted by the Government are not taxable, but such
clarifications are not necessary for every scholarship.

its taxable i think..

it should not be taxable.

visit this link

IS Stipend under Salary - Income Tax Forum

It is taxable.

thnx Aditya Sir

CA article ko itna stipend milta hai ki taxable ho??? Atleast muje to nhi. Ha agar 3 saal ka milaya jaye to 10 saal pehle k slab rate k hisab se Taxable hoga @ 10%

On a serious note:

in Sudhir Kumar Sharma vs ITO (1983 15 Taxman 100 Jaipur Mag) has held that the stipend received by an articled clerk from a chartered accountant is exempt under Section 10(16).

The reason given by the Bench was that the stipend was paid to meet the cost of books, coaching fees, examination fees, and so on.

Reference may also be made to the ITAT decision in ITO vs Dr. G. N. Ramachandran (1 ITD 902 Bangalore) where it held that stipend received to meet the cost of education would be exempt under Section 10(16).

 

if the refrence above given by named  A STUDENT  is correct then i agree with him otherwise  stipend is taxaxble  and again i would like to know kisko itna stipend milta hai  ki it has cross the basic exemption limit.

Stipend received by a ca student is declared fully exempt by the honorable supreme court of india.

Originally posted by : Mohammed Shariq
	if the refrence above given by named  A STUDENT  is correct then i agree with him otherwise  stipend is taxaxble  and again i would like to know kisko itna stipend milta hai  ki it has cross the basic exemption limit.

SK sharma case can be verified frm here

https://www.thehindubusinessline.com/iw/2003/12/14/stories/2003121400091200.htm

in last section "reply" 2nd para

I agree with Aditya sir.

The case law is of Sudhir Kumar Sharma (1983) 15 Taxmann 100 of ITAT Jaipur Bench which states that stipend received by CA student is exempt.

In the case law there is mention that the same is applicable before introduction of rule 32B prescribing the minimum stipend rules was prescribed by the Institute which do not follow the follow the practice of paying a meager amount to meet the cost of books, fees, etc and hence cannot be termed as receipt for the purpose of meeting the cost of education to be exempt u/s 10(16).

IT IS TAXABLE.

Stop all discussion and have a look on attached file.

i think it is exempt..........