Question

scholarship is ......... income​

Answer 1

Any academic scholarship is usually not a taxable income.Therefore,scholarship is not taxable income.

Explanation:

Any scholarship or stipend is a tax free income provided that it is solely used to cover the academic expenses of any student or pupil.Under section 10(16) of Income Tax Act,any scholarship money or income intended to cover the educational or academic expenses of any student is not taxable.Therefore,the recipient of the scholarship do not have to declare the tax information or fill out the tax documentations on the amount he or she is receiving as it does not come under tax deductible income range.