Taxability of stipend received


audit manager

Stipend received by a doctor in connection with his higher studies is taxable or not

Total likes : 1 times

 
Reply   
 

it's taxably
 
Reply   
 
audit manager

How it disclose in itr - salary income or other income

Based on my knowledge stipend not include in salary head

Total likes : 1 times

 
Reply   
 

Stipend is normally at par with Salary for doctors. Is there ant TDS deducted ? if yes then under which section TDS deducted. You can show it as other income.
 
Reply   
 
audit manager

No TDS deducted

Stipend received Rs 50000 per month

Total likes : 1 times

 
Reply   
 

You may show it as other income. Pay taxes afap and file return.
you may show under salary head where you can get 40000 standard deduction.
it is surprising how there is no TDS ?
 
Reply   
 
Proprietor

Since your Stipend goes above taxable income you should file ITR-1  and show stipend under  exempt income  under 10(16) -Stipend/Scholarship received during Higher studies. other income may/may not  be zero.  

 
Reply   
 

To be taxed under salary, there must be employer and employee relationship must be there. Stipend might be taxed under the head other income.
 
Reply   
 

LEAVE A REPLY

Your are not logged in . Please login to post replies

Click here to Login / Register  

 


×

  CCI MENU