Poonawalla fincorps
Poonawalla fincorps

Stipend

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(Querist)
23 September 2014 stipend given to articles. taxable in which head of income tax? why ?
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
23 September 2014 There are three views:

1. That it is not taxable at all. This is based on a rajasthan high court judgment.

2. That it should be taxed as income from other sources.

3. That it can be considered as professional fees. Certain large ca firms follow this view.

4. That it is salary. I personally subscribe to this view as it is also backed by language of form.102/104
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
24 September 2014 pls quote the rajasthan hc case law name n details
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