Taxability of scholarship received for m.tech

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pankaj sahu (Querist)
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28 July 2017 kindly clarify whether scholarship received for research work in m.tech is exempted under section 10(16). what if assessee is having income as professional fees of rs 200000 in a F.Y. in which scholarship received.

K Srinivas, CMA CS

K Srinivas, CMA CS (Expert)
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28 July 2017 Yes, scholarship received for research work is exempt under 10(16). One has to ensure that the relationship between the assessee and the donor is that of a donor donee relationship and not any other beneficial relationship like principal - client or employer employee.

K Srinivas, CMA CS

K Srinivas, CMA CS (Expert)
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28 July 2017 Professional income will be taxed separately as any other income

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pankaj sahu

pankaj sahu (Querist)
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28 July 2017 dear sir

thanks for your valuable reply.

is there any condition existed under section 10(16) that exemption from scholarship will be granted to assessee only if assessee is not having income from any other sources?

K Srinivas, CMA CS

K Srinivas, CMA CS (Expert)
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28 July 2017 No such condition exists.