No Tags Found!

SH

Shai89308

Executive Hr

AS

Ammu Shanvi

Human Resource

GS

G SHASHI KRISHNA

Senior Manager - Hr

AH

Aizant HR

Human Resources

MA

MARSHAL

Safety Officer

AK

Anish Katoch

Hr Executive

PR

PranjalR

Hr Recruiter

AP

Alka Pal

Hr Executive

Karthikeyan8195

Management Consultant

MK

Mohit Kumar Puri

Head Marketing

AU

Austex

Accounts Manager


RAMAKANT R
70

Dear All, We are a software company. Also we are running training institute. The trainee students from the Institute are working with the company as trainee consultant. These Trainee are drawing Stipend. I would like to know that whether the stipend paid to trainee is free from at source income tax deduction. To have more clarity I hereby add that the Fees paid by the student are properly covered under GST as AICTE approval is not there for the courses.
Whether this stipend concept is correct and if it correct up to what amount this can be made.

From India, Pune
umakanthan53
5967

Dear Ramakant,
Treatment of stipend received by trainees or students as "income" under the Income Tax Act with the exception of medical students pursuing higher studies remains still a debatable issue. By the by, whether the stipend paid to such trainee consultants exceed Rs.250000-00 p.a?

From India, Salem
RAMAKANT R
70

Dear Mr.Umakanthan M. Thanks for your immediate response. The stipend will be for three months @ Rs.8,000 per month. Ramakant
From India, Pune
Dinesh Divekar
7736

Dear Ramakant,
Since the annual remuneration exceed Rs 30,000/- the disbursement of stipend attracts "Tax Deduction at Source" (TDS) @ 10% u/s 194J of IT Act, 1961.
In fact your accounts department should have educated you on this.
Thanks,
Dinesh Divekar

From India, Bangalore
RAMAKANT R
70

Thanks divekar sir, since the stipend is payable for 3 months @ 8000 hence i think no tds term is applicable. Regards ramakant
From India, Pune
Find answers from people who have previously dealt with business and work issues similar to yours - Please Register and Log In to CiteHR and post your query.




About Us Advertise Contact Us Testimonials
Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2024 CiteHR ®

All Copyright And Trademarks in Posts Held By Respective Owners.