Stipend

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

26 November 2013 Gud morning sir,
i am doing my articleship from last six months.My query is if i do not show my stipend in bank statement than it create any problem for me.
OR my CA gives me stipend in cash than it is any problem??
pls help me???

Ajay Mishra

Ajay Mishra (Expert)
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26 November 2013 As per Regulation 48 The stipend under this regulation shall be paid by the principal to the articled assistant either (a) by a crossed account payee cheque every month against a stamped receipt to be obtained from the articled assistant; or (b) by depositing the amount every month in an account opened by the articled assistant in his own name with a branch of the bank to be specified by the principal.

The Institute will demand stipend details when you submit Form-108.