Stipend
This query is : Resolved
16 January 2014
whether stipend taxable or not?
pls reply
17 January 2014
Stipend is taxable income.
17 January 2014
When u receive stipend it clearly means your not an employee of the principal.. hence the question of employer employee does not arise.. It SURELY CAN NOT BE regarded as Salary... It is completely exempt under IT Act u/s 16... if reqd refer case law Ratnakar Rao (A) Vs. Additional Commissioner of Income-tax (1981) 128 ITR 0527.
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