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Tax treatment of award

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(Querist)
24 June 2014 Whether award received for obtaining 1st position in exam say FIITJEE is taxable under Income Tax Act?
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
24 June 2014 depends on what exam this is.............
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Rupesh Jain

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Rupesh Jain (Expert)
25 June 2014 you have to not mention the exam, but mostly award not giving by central govt. state govt. will be taxable.
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vikash kumar

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vikash kumar (Querist)
27 June 2014 Which section of income tax deals with taxability of award received?

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