Stipend to a trainee in industry

This is a debatable area. If stipend received by you as a trainee is towards supporting further education, then it will be exempt u/s 10(16). Else, it shall be taxable.

MBA graduates or engineering graduates receive stipend by pursuing internship at a company – Some companies may even offer accommodation. The Stipend letter may or may not include a break up like a salary letter does. This may or may not be similar to the employment letter offered to a full time employee. However, if this payment is made for you to gather an experience and perform services similar to an employee, such Stipend income shall be taxable.

You may also refer another relevant thread at the following link (Taxability of stipend received by doctors): 

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