Hello Friends,
Can somebody tell me that Stipens Income received is taxable or no??? If yes, to be clubbed under which head of Income and the exemption section reference also.
Sayli Sunil Mehta (Audit Executive) (24 Points)
06 August 2012Hello Friends,
Can somebody tell me that Stipens Income received is taxable or no??? If yes, to be clubbed under which head of Income and the exemption section reference also.
m nagar
(articled)
(52 Points)
Replied 06 August 2012
No. the stipened income received is not taxable.Stipend, prima facie, should be treated as a scholarship and should be exempt, since Sec. 10(16) exempts all ``scholarships granted to meet the cost of education''
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