Is stipend recd during dnb course is taxable
N.G.Krishnan (PRACTICING CHARTERED ACCOUNTANT) (32 Points)
01 October 2016N.G.Krishnan (PRACTICING CHARTERED ACCOUNTANT) (32 Points)
01 October 2016
saurabh kumar
(Tax Consultant)
(348 Points)
Replied 01 October 2016
No it is not taxable since any Schlorship for the purpose of Education is exempt u/s 10(16).The object of stipend should be to meet the cost of education.It does not matter that the whole amount is in excess of the actual expense even then the stipen will be treated as scholarship and will be exempt.
LIVE Course on Foreign Exchange Management Act (FEMA)(with recording)