Hi, my wife is doing post graduation in medicine (MD). While studying she is receiving Rs. 540000 p.a. as stipend. She is paying the same amount as college tution fees, so actually earning is zero. So does she need to file ITR and pay Tax on stipend income?
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Tax on stipend earned.
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Stipend received for higher education is exempt u/s. 10(16) of IT act............ or it is not taxable........ that's reason no TDS would be deducted......
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