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stipend's taxability------urgent

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(Querist)
21 August 2010 IS stipend is exempted from tax , if yes then whats the limit?

Kindly help me its very urgent......
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CA Kalpesh Gokani

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CA Kalpesh Gokani (Expert)
21 August 2010 Yes stipend is exempt u/s 10(16)...bt it is exempt only upto amt which is spent for eductional expenses for himself only.
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
21 August 2010 It is taxable. It is not covered u/s 10(16).

It is taxable.
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
21 August 2010 visit this link
https://www.caclubindia.com/forum/is-stipend-under-salary-90486.asp

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