Whether stipend received as industrial trainee is exempt or taxable?
Please help
Thanks in advance.
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Tax on Stipend recd as industrial Trainee
Replies (8)
hi,
Stipend received by an industrial trainee is completely exempt.
Regards,
Mohit Sharma
NTPC LTD.(Industrial Trainee)
Please provide any case law or section under which it is exempt.
Thanxs
Dear Khusboo,
PFA
IT IS TAX EXEMPT U/S 10(16) OF THE IT ACT, 1961.
Yeah section 10(16) of IT ACT provides an exemption for stipend received provided it is given for further or continuation of the same course for which the stipend is paid
Thanks Mr Amir for the attachment
whether it is taxable even If same stipend is received after completing CA course for balance articleship ??
Dear Balakrishna,
I also doubt that the case will hold good in the remaining period of articleship after qualifying exams.........
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