Under which category of income should an Article Student who wants to file his/her ITR show the STIPEND received during the year? Is it taxable income?
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Where to show Stipend Income in ITR
Replies (3)
Yes, it's taxable and your are required to show that income under head " income from other sources" in your ITR.
As per my thinking, stipend income should be exempt u/s 10(16) as it is provided to meet expenses of books and exam fees and the minimum amount is also governed by the act.
As per my view, Section. 10(16) scholarships granted to meet the cost of education is exempt.
I don't think stipend granted to article is considered as ' scholarship'.
It's Granted because they are also working like employees, and helping the principal in their work. it's not given to meet expenses of books, exam fee..
I don't think stipend granted to article is considered as ' scholarship'.
It's Granted because they are also working like employees, and helping the principal in their work. it's not given to meet expenses of books, exam fee..
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