Please give me advice on income tax on stipend 85k monthly ..

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Deal Newbie
avgavg10
I have Stipend of 85400 per month,the  entity paying me doesn't deduct any TDS on it, so now when itr filing date is 31 July I want to ask my fellow dimers.. how to file itr

I know from Google that.. there is no provision or clarification regarding "stipend" for ITR..

Two sections
1). Stipend is considered as "salary".. with TDS deducted .... So in that way I must pay taxes  (In TDS , and may claim a refund by showing the ppf etc...)

2) The stipend is considered as a "scholarship" with no TDS deducted..(I am in this scenario) . So in itr .. where should I put this amount in income of ~10 lakh ? Because it is deposited in my sole bank account which 'might/is being' tracked by incom.tax. dep from the PAN...
I have no other income except the  Savings account interest( a very small amount)..
Please Share the opinions thank you....
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9 Comments  |  
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Deal Newbie Deal Newbie
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Thank you

Deal Cadet Deal Cadet
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If you are a research scholar, then your fellowship is tax free.

Deal Cadet Deal Cadet
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Section 10 16 in exempt income

Generous Generous
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It depends on your role and responsibilities.

If you are an engineer, doing full-time work like the other employees, and getting the stipend for that, then it's taxable as a salary. You can't classify it as a scholarship.

Deal Newbie Deal Newbie
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Bro which firm giving 85k stipend.

Deal Newbie Deal Newbie
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Post Graduation in M.D.in any branch Gujarat

Finance Mentor Finance Mentor
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Scholarship in exempted income I think ..

Deal Newbie Deal Newbie
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This income in not showing in AIS document... So it's not tracked?!

replyuser
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