Re: [aurangabad_ca] Stipend taxable or taxfree
Dear Friends
Stipend received by CA Student is totally Tax Free U/S 10 (16) irrespective of the Amount. The same was held by High Court in the Case between CIT V/S R R SHARMA .
I don't have the full details with me right now but will provide if needed.
With Regards
CA Atul Gundewar
Barshi
9422069007
----- Original Message -----From: Shamaa KhanSent: Monday, March 22, 2010 5:07 PMSubject: Re: [aurangabad_ca] Stipend taxable or taxfree Under which section Sir?
On Fri, Mar 19, 2010 at 7:26 PM, ashoka jain <aajainassociates@gmail.com > wrote:
stipend is totally tax free irrespctive of amount
On Thu, Mar 18, 2010 at 8:34 PM, nilesh agrawal <nkagrawal80@gmail.com > wrote:
HelloI Want to now whether Stipend received by Doctor or Ca students during intership/ articleship is taxable or taxfree. if taxfree under which section of the Act and were the same is to be disclosed while filiing of return. The stipend received exceeds the maximium amount chargeable to taxkindly give our suggestionRegardsN K Agrawal9823618311
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AURANGABAD_CA is a Yahoo Group for the benefit of CA and other professional. It is especially meant for written discussion within group members and circulate the information among its members. The mail may contain such research/advice/opinion/information/fact provided by any member or moderator and every contain of the mail or information of yahoo is always subject to the Accuracy and of the description of facts.
The Aurangabad_CA , its moderator/owner do not claim that contains in mail/information obtained after reading as a complete and accurate disclosure of relevant fact(s).
Considering all above facts m the transaction based on above mail may not complete without confirming proper statue/authority/person. Therefore any action/transaction taken on basis of this mail do not imply the accuracy or value . Further this Group's Owner/Moderator/Member are not liable for any damages or costs suffered due to action/transaction based on information on this Yahoo Group.
For Seeking any Clarification you may mail only to Group Moderator on
girishkulk@gmail.com
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