Stipend is Exempted??


HITESH (chartered accountant)     21 June 2011

HITESH
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Is Stipend which is been received by the articles students is exempted??


If exempted under which section????

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Abhijeet Deshpande (Co-Founder & Manager @ Tax-Yantra)     21 June 2011

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Originally posted by : HITESH


Is Stipend which is been received by the articles students is exempted??


If exempted under which section????

 I think its not chargeable at all.. Kindly let me know if im wrong.

TUSHAR MADAAN (ARTICLE ASSISTANT)     21 June 2011

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Stipend which is received by articles is not exempted. It is taxable under salary head.

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vivek (CA Final)     21 June 2011

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It is taxable under the head other sources

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Abhijeet Deshpande (Co-Founder & Manager @ Tax-Yantra)     21 June 2011

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Originally posted by : TUSHAR MADAAN

Stipend which is received by articles is not exempted. It is taxable under salary head.

@ Tushar Definition of Salary does not cover Income from Apperentice.

@ Vivek Kindly let me know the reference for coverage under Other Sources and thanx.

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Roopali Kadam (CA cleared- In Job)     21 June 2011

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is not exempted. It will be income from other sources

Plz refer this thread to get more info /forum/tax-on-stipend-148815.asp

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Ankush Bajaj (CA Final Student)     21 June 2011

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Hi Hitesh,  

i m attaching hereby a case law regarding taxability or exemption of stipend income.. According to me it is exempt


Attached File : 473847 745596 16 articleship stipend 10 16 exemption case law.pdf downloaded: 335 times
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vivek (CA Final)     21 June 2011

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@ tushar: now i dont think i need to give reference

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vivek (CA Final)     21 June 2011

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@ abhijeet: now i dont think i need to give reference

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sumeet agrawal (Employee)     21 June 2011

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It is Chargeable Under Head Income From Other Sources as defn of salary does not cover income from apprentice.


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