CA Students

614 views 9 replies
User Avatar

CA Final
964 Points Joined December 2008

Is stipend considered as taxable income or is it considerd to be tax free. Please give me exact details for the same.

 

Thanks in advance

Reply Share Follow
On 03 March 2009 at 16:09 Report
Replies (9)
User Avatar

CA Final
145 Points Joined January 2009

Stipend received from Principal is Taxable under the heads salary because relationship between principal  and trainee exist as empolyer and empolyee working on some condition.

Reply
On 03 March 2009 at 16:14
User Avatar

C.A.Final (New) ICWAI FINAL (New)
11269 Points Joined November 2008

thanks sudhir

 

Reply
On 03 March 2009 at 16:34
User Avatar

C.A. Final Student
195 Points Joined January 2009

 

Since there is no Employee Employer relationship the said income would not fall under head “Income from Salaries” and will be taxable under the head “ Income from Other Sources”
Reply
On 03 March 2009 at 16:46
User Avatar

Financial Advisory
2134 Points Joined September 2007

Stipend is exempt from tax. Please see the search files section for the copy of the relevant case law.

Reply
On 03 March 2009 at 16:51
User Avatar

professional accountant
7647 Points Joined September 2008
Originally posted by :Krunal Raichura
" Stipend is exempt from tax. Please see the search files section for the copy of the relevant case law. "

YA-STIPEND IS EXEMPT -SEE RELEVANT CASE IN FILE SECTION POSTED BY CA-RAJEEV AGARWAL

Reply
On 03 March 2009 at 17:57
User Avatar

CA Final Student
2571 Points Joined August 2008

thanks a lot.

Reply
On 03 March 2009 at 18:00
User Avatar

SIEMPRE AHÍ PARA TI
15607 Points Joined December 2008

Thanks

Reply
On 04 March 2009 at 20:14
User Avatar

1268 Points Joined April 2007
Stipend is exempt from tax.... Upto a reasonable extent..As it is deemed to be scholarship received for meeting costs of education...
Reply
On 04 March 2009 at 21:18
User Avatar

Articled Assistant
28 Points Joined March 2009

Thank you for all

Reply
On 04 March 2009 at 22:23


CCI Pro

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Threads

More recent discussions | Post

Related Threads
Loading