Is Stipend Received is Taxable Income?

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CHEZHIYAN (Querist)
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23 August 2008 Is Stipend eceived by Articles is a Taxable Income?
If so the under what head?
Principal and Articles Doesn't have a Employee - Employer Relationship!!!!!

1.My Principal Says Taxable under Salaries.
2.My Senior Who is also a chartered accountant says not taxable..
3.My Cousin who is practising chartered accountant says it is taxable under income from other sources..

Many has agreed the 3rd option..

Can any body clarify this by justifying your answer with web links?

CA Hemant T Dewani

CA Hemant T Dewani (Expert)
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23 August 2008 you are not employee of your ca.so it income under the head of income from other sources

CHEZHIYAN

CHEZHIYAN (Querist)
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23 August 2008 Thanks

CA.Tarun Maheshwari

CA.Tarun Maheshwari (Expert)
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23 August 2008 Income from Other Sources

CHEZHIYAN

CHEZHIYAN (Querist)
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23 August 2008 do any body have any other suggestions?
please reply with Source to Prove it

KAAPIL

KAAPIL (Expert)
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23 August 2008 Yes. Income From Other Sources.
It is given in depth in Act Commentary.
Refer Pithisaria.

KAAPIL

KAAPIL (Expert)
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23 August 2008 Yes. Income From Other Sources.
It is given in depth in Act Commentary.
Refer Pithisaria.

CHEZHIYAN

CHEZHIYAN (Querist)
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25 August 2008 Thank uou Mr.Kapil

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