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stipend received exempt or taxable under any head?

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c.a. profession
557 Points Posted on 25 October 2007
stipend received by trainees taxable under which head? or it is exempt. there was a case pending before honourable SC. plz let me know its result
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On 25 October 2007 at 20:40 Report
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Guest
460655 Points Posted on 25 October 2007
Hi stipend received is exempt from tax.For refernece Refer to jaipur bench of the tribunal in the case of sudhir kumar sharma V/s ito (15 taxmann 100 (mag)where it was mentioned that stipend received by an articled clerk froma CA is exempt under section 10(16)
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On 25 October 2007 at 23:00
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CA
321 Points Posted on 26 October 2007
Stipend recd will be taxable.
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On 26 October 2007 at 10:48
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B.com CA CS
1552 Points Posted on 26 October 2007
It is not taxable because trainee is not an employee.
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On 26 October 2007 at 11:00
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Guest
460655 Points Posted on 26 October 2007
whetter stipend received by the industrial trainee is also not taxable??
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On 26 October 2007 at 11:24
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TaXpert
15126 Points Posted on 26 October 2007
who said you that trainee is not a employee my dear, Its taxable in salary head
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On 26 October 2007 at 12:11
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TaXpert
15126 Points Posted on 26 October 2007
its taxable unless its scholarships granted to meet the cost of education exempt under section 10(16)
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On 26 October 2007 at 12:14
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c.a. profession
557 Points Posted on 28 October 2007
sir jee plz check ur reply and also latest tribunal decision and plz do reply me plz
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On 28 October 2007 at 20:23


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