IS THE STIPEND RECIEVED BY ARTICLE CLERK TAXABLE?
IF THE ARTICLE CLERK IN QUESTION RECIEVED STIPEND OF RS.15000 PER MONTH OR ABOVE
PLEASE ADVICE ACCORDINGLY
IS THERE ANY CASE LAW TO SUPPORT YOUR ANSWER
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IS STIPEND TAXABLE ? ADVICE
Replies (5)
no it is exempt Under sec. 10 (16) in the case of Sudhir kumar Vs ITO. Stipenf=d is givr=en to us for for choching & study material cost not for income
Otherwise, it is taxable under Sec.17(1) as Income From Salaries
| Originally posted by :laxman suthar | ||
| " | no it is exempt Under sec. 10 (16) in the case of Sudhir kumar Vs ITO. Stipenf=d is givr=en to us for for choching & study material cost not for income | " |
WHERE TO GET THE CASE LAW IN SOFT COPY IF YOU HAVE PLEASE SEND ME
exempt Under sec. 10 (16)
yes stipend received during training is tax exempt u/s 10(16).
the reason behind it is that the word salary means any services rendered but during the training a person acquires the technical knowledge of the profession and there is no application of knowledge or rendering of any service.
So, stipend received during the articles is exempt.
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