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PAN CARD

CA.Shaleen Srivastava (CA , CWA*, Bcom(H)) (2004 Points)

09 February 2008

DEAR ALL

WHETHER A STIPENT RECEIVED BY THE ARTICLE FROM THEIR CA IS LAIBLE FOR TAX?

IS HE (ARTICLES) REQUIRED TO OBTAIN PAN NO.

SHALEEN SRIVASTAVA

CA FINAL

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8 Replies

(Guest)

yes stipend received will be taxed but until and unless his income exceed 1lac he is not required to have pan no.

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(Guest)

Stipend is paid to meet the cost of education. Hence, can be claimed exemt u/s 10(16).

Ahmed (CA student) (1105 Points)
Replied 09 February 2008

no tax

Ashish Ranpara (TAX CONSULTANT) (369 Points)
Replied 10 February 2008

STIPHAND RECEIVED IS NOT LIABLE TO TAX AS INCOME RECEIVED AS STIPHAND IS NOT EXCEED THE 1 LAC AND PAN IS NOT MANDATORY IF YOU NOT FILE IT RETURN, IF YOU WISH TO FILE INCOME TAX RETURN THAN YOU MUST HAVE TO PAN

O.D.SHARMA (DGM-F & A) (1734 Points)
Replied 11 February 2008

Yes,This is income but enjoy the limit of 1.10 Lac

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pushpendra (Director- FinMAT Consultants) (1703 Points)
Replied 11 February 2008

Stipend is a part of taxable income.

CA. GOPAL SONIKA (CHARTERED ACCOUNTANT) (1426 Points)
Replied 18 February 2008

Stipend forms a part of the total income. However, if his total income including stipend does not exceed Rs.1.1 lacs he is not liable to pay tax. And also PAN No. is not necessary.