CA Parag Shukla (Practicing Chartered Accountant) (153 Points)
09 March 2010
CA. ANiRuDDhA RAthi
(CA)
(554 Points)
Replied 09 March 2010
OF COURSE STIPEND IS TAXABLE
BUT NOT UNDER HEAD "SALARY"
UNDER HEAD "INCOME FROM OTHER SOURCES" U/S 56 ...
THANX
if u have any query about taxation
contact me any time from any where
Regards ,
Aniruddha Suresh Rathi
+91 9423575556
contact (call / sms / mail) me any time,,, any where
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and
CA.ViVeK M ACA
(ACCOUNTS DEPARTMENT)
(28544 Points)
Replied 09 March 2010
For attracting taxability , there require the relationship of employer and employee . There is no relationship between principal chartered accountant and atricled clerck as employer and employee or master or servant.
Hence , the stipend earned cannot be charged to tax under the head salary..
CA Shabeer
(CA, M.com)
(297 Points)
Replied 09 March 2010
I'm doing CA Final. i would like to go 4 Industrial Trainning from sept 2010.
But My Principal Never Allow Seems. what willi i do? pls advise me
taranjeet kaur
(bank employee)
(21 Points)
Replied 11 March 2010
no it is income under the head other sources with 100% CORRECT ANSWER
CAclubindia
