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STIPENED UNDER WHICH HEAD

Tax queries 1741 views 11 replies

HELLO FRENZ...

I WANT TO KNOW UNDER WHICH HEAD STIPENED RECD. FROM PRINCIPAL SHOWN IN COMPUTATION.

HOWEVER, MY PERSONAL THINKING IS THAT IT SHLD SHOWN UNDER THE HEAD IFOS.

 

 

 

Replies (11)

salary

But how it will come under the head  SALARY, as teher is no relation of Employer and Employee....

Originally posted by :SONUJRT
" But how it will come under the head  SALARY, as teher is no relation of Employer and Employee.... "

no it will b shown under the head ifos as i thinks fit,bcoz there is no employer-employee relationship,have u read any announcement regarding it?
 

everything depends upon the control

whether principal can control the actions of yours or not? i mean are u bound to follow the instruction.

if yes it will come under the head salary otherwise under other source.

thats what i think, pls correct me if i m wrong :)

HI FRIEND IFU THINK & CHECH IN THE REAL INDUSTRY THEREAREMANYB PERSONS WHO WORKED IN INDUSTRY AS INDUSTRIAL TRAINEE AND THEIR INCOME TAXABLE UNDER  SALARY HEAD  IF WE ARE UNDER  INDUSTRIAL TRAINEE THEN WE RECIVED MONEY ON NAMEOF STIPEND WHICH WILL CONSIDER TAXABLE UNDER HEAD SALARY SAME AS IF WE ARE UNDER TRAINEE IN CA FIRM OUR STIPENDSHOULD TAXABLE UNDER HEAD SALARY 

HI FRIEND IF U THINK & CHECH IN THE REAL INDUSTRY THERE ARE MANY PERSONS WHO WORKED IN INDUSTRY AS INDUSTRIAL TRAINEE AND THEIR INCOME TAXABLE UNDER  SALARY HEAD  IF WE ARE UNDER  INDUSTRIAL TRAINEE THEN WE RECIVED MONEY ON NAME OF STIPEND WHICH WILL CONSIDER TAXABLE UNDER HEAD SALARY SAME AS IF WE ARE UNDER TRAINEE IN CA FIRM OUR STIPEND SHOULD TAXABLE UNDER HEAD SALARY 

 

Originally posted by :mahalaxmi g.
" salary "


 

Stipend is shown under the IFOS as there is no Employer -Employee relationship

As there is no employer & employee relationship,it should be shown under IFOS

right it will be under IUOS

it will be included in IFOS head

It can't be under Salary as there is no relationship of employer and emplyee rather the relation is of Principal and student .Hence it will not be covered under Salary and will be chargeable under Income from other sources.


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