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Q. > Please Help: Is stipend Taxable???
Stipend received by cwa trainees during their industrial training in company is taxable?????
3 Answers
answered May 01, 2012 by CA Richa Gupta , Faridabad
it will be taxable if it exceeds the maximum exemption limit.
answered May 01, 2012 by Rishabh Upadhyay , Chandigarh
Yes, it is a taxable recipt
answered May 17, 2012 by CA. SURESH Kr. AGARWAL , Delhi
Stipend is also taxable as Salary.
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Comments
Ankit Jain
01-May-2012 , 12:19:34 pmYes Stipend is Taxable
himanshu mittal
01-May-2012 , 03:51:31 pmIt does not covered u/s 10(16) Of IT Act??
Gaurav Mittal
01-May-2012 , 07:08:49 pmYes dear Himanshu, its taxable.......as per salary definition it is taxable under Salary head.
himanshu mittal
02-May-2012 , 09:11:47 amif ca trainee recves stipend that is exempt u/s 10(16). Then its also a stipend
himanshu mittal
02-May-2012 , 09:13:35 amDear Gaurav , as trainee rec stipend then i think there is no relation of employer or employee,thats the basic requirement for charging in salary head
himanshu mittal
07-May-2012 , 01:01:59 pmPlz give your suggetions