4 Replies
CA. ANiRuDDhA RAthi
(CA)
(554 Points)
Replied 09 March 2010
OF COURSE STIPEND IS TAXABLE
BUT NOT UNDER HEAD "SALARY"
UNDER HEAD "INCOME FROM OTHER SOURCES" U/S 56 ...
THANX
if u have any query about taxation
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Aniruddha Suresh Rathi
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CA.ViVeK M ACA
(ACCOUNTS DEPARTMENT)
(28544 Points)
Replied 09 March 2010
For attracting taxability , there require the relationship of employer and employee . There is no relationship between principal chartered accountant and atricled clerck as employer and employee or master or servant.
Hence , the stipend earned cannot be charged to tax under the head salary..
CA Shabeer
(CA, M.com)
(297 Points)
Replied 09 March 2010
I'm doing CA Final. i would like to go 4 Industrial Trainning from sept 2010.
But My Principal Never Allow Seems. what willi i do? pls advise me
taranjeet kaur
(bank employee)
(21 Points)
Replied 11 March 2010
no it is income under the head other sources with 100% CORRECT ANSWER
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