Please Help: Is stipend Taxable???
Posted Date : 01-May-2012 , 09:08:22 am | Posted By himanshu mittal
Stipend received by cwa trainees during their industrial training in company is taxable?????
Category : Income Tax | Answers : 3 | Comments : 6 | Hits : 1154
Answers
Answer By: CA Richa Gupta
it will be taxable if it exceeds the maximum exemption limit.
Answer By: Rishabh Upadhyay
Yes, it is a taxable recipt
Answer By: CA. SURESH Kr. AGARWAL
Stipend is also taxable as Salary.
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