Stipen
This query is : Resolved
31 December 2013
is the stipen received by an articles student taxable....if yes reasons and if no then also reasons???
31 December 2013
Stipend is exempt income under sec.10(16) of income tax act,
https://www.caclubindia.com/experts/filing-of-return-1314409.asp
Reference : Sudhir kumar sharma(ca article)VS ITO
Thanks & regards
Ganesh babu k
https://www.caclubindia.com/experts/filing-of-return-1314409.asp
Reference : Sudhir kumar sharma(ca article)VS ITO
Thanks & regards
Ganesh babu k
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31 December 2013
Hi
Stipend given to CA student is certainly taxable!!
Pl refer: https://www.caclubindia.com/forum/re-stipend-taxable-or-exempt-58391.asp
Thanks
Stipend given to CA student is certainly taxable!!
Pl refer: https://www.caclubindia.com/forum/re-stipend-taxable-or-exempt-58391.asp
Thanks
01 January 2014
@Vaibhav
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You may be incorrect,Please recheck
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In any case stipend given which will come to Sec.10(16) is exempt from tax
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As i provided Kindly provide if you have any section or case law reference which supports your opinion
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You may be incorrect,Please recheck
.
.
In any case stipend given which will come to Sec.10(16) is exempt from tax
.
.
As i provided Kindly provide if you have any section or case law reference which supports your opinion
02 January 2014
Dear Ganeshbabu,
10(16) refers to scholarships granted to meet the cost of education; stipend is not scholarship granted by ICAI.
case laws which you are talking about refers to scholarships.
If you are taking it as base then Stipend prescribed by ICAI will be exempt, if any amount paid over & above it then it wont get any exemption.
Thanks
10(16) refers to scholarships granted to meet the cost of education; stipend is not scholarship granted by ICAI.
case laws which you are talking about refers to scholarships.
If you are taking it as base then Stipend prescribed by ICAI will be exempt, if any amount paid over & above it then it wont get any exemption.
Thanks
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02 January 2014
Stipend is not equivalent to the scholarship.
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Hence it is taxable as salary.
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Hence it is taxable as salary.
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02 January 2014
Counter query :
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A CA student failing frequently while in articleship; can he be said as a Scholar? :)
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A CA student failing frequently while in articleship; can he be said as a Scholar? :)
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03 January 2014
Yes the same is taxable. Detailed discussion has taken place here
https://www.caclubindia.com/forum/is-stipend-under-salary-90486.asp#.UsZdhvQW2BI
https://www.caclubindia.com/forum/is-stipend-under-salary-90486.asp#.UsZdhvQW2BI
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