Stipend is Exempted??

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.

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

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.

is not exempted. It will be income from other sources

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

Hi Hitesh,  

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

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

Originally posted by : Ansh Bajaj
	Hi Hitesh,   i m attaching hereby a case law regarding taxability or exemption of stipend income.. According to me it is exempt

ok then can we say  for any student getting nominal stipend we can claim exemption u/s 10 (16) 

Whether Stiphend include conveyance also?

Ya stipend is surely exempted for a article getting from his ca principal,as these stipend is mainly paid to meet his books and coaching fees, and it has also been wriiten in section 10(16).

Stipend is taxable under "Income from Salaries" as Sec. 17(1) point no .1 is Wages.

Wages means wages as per Factory Act 1948 which includes payment to apprentices.

Regards,

Nitin Wadhwani

Heey Brothers / Sisters................... Do you get Stripend more than the basis exemption limit ?????

I think - the answer is - No .

So. why are you worried ??????????