TAX ON SCHOLARSHIP
Khalique Laskar (34 Points)
09 July 2018
Whether the scholarship received by a student from Central Government is taxable?
1 Replies
(Guest)
Scholarship [Section 10(16)]
The full amount of scholarship granted to meet the cost of education is exempted.
‘Cost of education’ includes not only the tuition fees but all other expenses which are incidental to acquiring education. Scholarship may have been given by Govt., University, Board, Trust, etc. The exemption is irrespective of actual expenditure incurred by the recipient to meet the cost of education.
The full amount of scholarship granted to meet the cost of education is exempted.
‘Cost of education’ includes not only the tuition fees but all other expenses which are incidental to acquiring education. Scholarship may have been given by Govt., University, Board, Trust, etc. The exemption is irrespective of actual expenditure incurred by the recipient to meet the cost of education.
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