Taxability of stipend income

Page no : 2

Nitin Chordiya (CA final Student) (264 Points)
Replied 26 December 2015

I think it will be taxable in income from other sources head.

Ruchi (CA) (1410 Points)
Replied 26 December 2015

Stipend is taxable(few exemptions apart) and under Income from OS.

SANTOSH AV (ARTICLE ASSISTANT) (36 Points)
Replied 26 December 2015

Stipend is chargeable to tax under income from other sources. It is a general income.

SANTOSH AV (ARTICLE ASSISTANT) (36 Points)
Replied 26 December 2015

Stipend is chargeable to tax under income from other sources. It is a general income.

SANTOSH AV (ARTICLE ASSISTANT) (36 Points)
Replied 26 December 2015

Stipend is chargeable to tax under income from other sources. It is a general income.

anil (1234) (30 Points)
Replied 26 December 2015

Stipend income taxable other income

shubham gupta (Tax Consultant) (71 Points)
Replied 26 December 2015

i think its taxable under other source.. can u tell us in which firm are you working that they pay u so much? :P

CA SHAH DILEEPKUMAR (PARTNER) (144 Points)
Replied 27 December 2015

Dear any amount received to meet cost of your education, It has to be specifically mentioned for what type of education

he is meeting out for which stipend is being paid then it is exempted irrespective of the amount of stipend

according to the provisions of the Act. Now question is what is cost of eduction and how much is received.

If something is more than cost of education then certainly it would be taxable.

Nitin Chordiya (CA final Student) (264 Points)
Replied 28 December 2015

It was an example Shubham Gupta. If a firm is paying 22,000/- PM to me than i will say it is Salary for me instead of stipend.

Nitin Chordiya (CA final Student) (264 Points)
Replied 28 December 2015

Thanx Sir,

Originally posted by : CA SHAH DILEEPKUMAR
	Dear any amount received to meet cost of your education, It has to be specifically mentioned for what type of education he is meeting out for which stipend is being paid then it is exempted irrespective of the amount of stipend according to the provisions of the Act. Now question is what is cost of eduction and how much is received. If something is more than cost of education then certainly it would be taxable.