taxablity of stipend
This query is : Resolved
19 June 2008
if a person(not a CA article) is recieving a stipend from co. say RS.75000 pm whether it is taxable or exempt.
plz provide the section
and what about if CA article is recieving this
plz provide the section
and what about if CA article is recieving this
CA. Yayati Tyagi
(Expert)
19 June 2008
in both cases taxable as salary.
CA. Yayati Tyagi
(Expert)
19 June 2008
open
19 June 2008
but there is no employer employee realtionship.
which section covers stipend
which section covers stipend
CA. Yayati Tyagi
(Expert)
19 June 2008
institute clearly states at every place member as "employer". then how can u say there is no employer-employee relationship.
19 June 2008
It is taxable under salary and deductions/exemptions are applicable
20 June 2008
epmployer employee relationship is not there because
1.there is an agreement of employment(102 is not an employemnt agreement)
2.plactically employee gets employee id and all prevelages which a normal employee gets.
3. no PF a/c or grautity is enjoyed by trainee.
1.there is an agreement of employment(102 is not an employemnt agreement)
2.plactically employee gets employee id and all prevelages which a normal employee gets.
3. no PF a/c or grautity is enjoyed by trainee.
pushpendra
(Expert)
20 June 2008
taxable under the heads income from other sources
CA. Yayati Tyagi
(Expert)
23 June 2008
hi Anupam,
1. why 102 is not an employment agreement? it cleraly provide for article to serve for 3.5 years under that employer for consideration of stipend.
2. not in every company the employee get employee id. looks u never been in any small or medium size company. which privilage an article don't get, pls let me know.
3. p.f. and gratuity are applicable if some conditions prescribed in respective acts are complied with. but i never seen any ca firm complying with these acts. perhaps they avoid applicability of these acts thru other means.
1. why 102 is not an employment agreement? it cleraly provide for article to serve for 3.5 years under that employer for consideration of stipend.
2. not in every company the employee get employee id. looks u never been in any small or medium size company. which privilage an article don't get, pls let me know.
3. p.f. and gratuity are applicable if some conditions prescribed in respective acts are complied with. but i never seen any ca firm complying with these acts. perhaps they avoid applicability of these acts thru other means.
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