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Taxability of stipend income
Is stipend is Taxable? If yes, then please tell that under which section?
Replies (24)
In my opinion stipend income would be exempt u/s 10(16) of the Income Tax Act.
If i receive 22,000/- per month as stipend then it is taxable or not ?
It depends from whom u r receiving and get r what purpose
Pehle ye bata kaha mil rahe hai tuje....
As per Kar HC judgement in the case of ratnakar, stipend is not taxable......
Stipend is taxable, if it exceeds maximam amount not chargeable to tax.
Stipend is taxable, if it exceeds maximam amount not chargeable to tax.
Stipend is taxable, if it exceeds maximam amount not chargeable to tax.....however if stipend is given in form of financial assistance to meritious or poor students..then it is exempt. In all other cases it is taxable u/s 16.
for those who are saying that it is exempt, read the judgment, it is exempt only to the extent of being used for the purpose of education and not beyond that.
for those who are saying that it is exempt, read the judgment, it is exempt only to the extent of being used for the purpose of education and not beyond that.
for those who are saying that it is exempt, read the judgment, it is exempt only to the extent of being used for the purpose of education and not beyond that.
Dear Nikhil, your consideration is partially correct....stipend is exempt.....if provided as financial assistance to students who are meritious but poor..thank you
If Stipend becomes taxable then in which head it will be taxable?
If stipend is taxable then in which head it is taxable??
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