Hello Friends,
One of my client's daughter is getting stipend income from Sms medical college of Rs. 2,21,000. What will be the tax treatment?
Thanking You
Arpit Pachisia (CA) (734 Points)
14 July 2014Hello Friends,
One of my client's daughter is getting stipend income from Sms medical college of Rs. 2,21,000. What will be the tax treatment?
Thanking You
Fenil Shah
(Audit & Tax Executive)
(402 Points)
Replied 14 July 2014
Stipend is not taxable under income from Salary, since there is no "Employer-Employee Relationship"; it'll be taxed under Income from other sources.
Arpit Pachisia
(CA)
(734 Points)
Replied 15 July 2014
Why it is treated as taxable income? It might be shown as Exempt income U/s 10(16).
Do clarify...
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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