31 May 2010
In my view if the stipend exceeds the cost incurred on education it is taxable since sec 10(16) says that schoolarships to the extent of cost of education are exempt but the question is in which head it'll be taxable since there is no employer employee relationship plz suggest
31 May 2010
Scholer-ship and stipend are different.
schooler-ship is paid without any consideration of work however while getting training on line with work the remuneration is paid is stipend. It is taxable at par with salary.
CAclubindia
