Research

This query is : Open

AvinasH (Querist)
Follow

07 February 2011 Amount received in the name of Research Rs. 10,00,000/- ..whether it will be exempt under any section of income tax act 1961.
Amount is received from ICAI .

Kapil Gupta

Kapil Gupta (Expert)
Follow

08 February 2011 To whom the amount is received?
Whether the assessee is notified by the taxation authorities for conducting the research?

Guest

Guest (Expert)

09 February 2011 It is taxable income.

Message likes : 1 times

Upgrade to CAclubindia Pro. Subscribe Now!

AvinasH

AvinasH (Querist)
Follow

16 March 2011 @ Karan :-
Amount is rceived by individual.
No the individual is not notified by tax authorities.
I want ask whether it can be exempt under any su-section of Section 10 of IT Act. 1961