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
YOGESH MANTRI (STUDENT (PERSUING CA )) (111 Points)
01 August 2009IS 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
laxman suthar
(Asst. Manager Taxtation )
(329 Points)
Replied 01 August 2009
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
CA Nitin Wadhwani
(Chartered Accountant)
(4469 Points)
Replied 01 August 2009
Otherwise, it is taxable under Sec.17(1) as Income From Salaries
YOGESH MANTRI
(STUDENT (PERSUING CA ))
(111 Points)
Replied 01 August 2009
| 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
CA Devanshi Gandhi (Ajani)
(FCA DISA Mcom CIFRS & LLB)
(9058 Points)
Replied 05 November 2009
exempt Under sec. 10 (16)
CA Apurav Agawal
(CA)
(109 Points)
Replied 05 November 2009
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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