Could anyone give me some material (any case law or notification) to prove that stipend received during tenure of articleship is exempt u/s 10 of the Income Tax Act.
31 May 2009
Stipend given to an articled assistant is tax free u/s 10(16) since it is granted for furthering education or gaining knowledge to become a CA. The following cases can be referred.
1) A.Ratnakumar V s. ACIT (1981) 128 ITR 527 (Kar). 2) ITO Vs. Dr.G.N.Ramachandran 11 ITD 902.
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