I am a Scientist based in Lucknow. I received an award from the Dept. of Science and Technology. As part of this award, I get a fellowship of INR15,000.00/per month. How can I claim exemption for (15,000x12=180,000) it in ITR1 form under Sec 10 (17A). I do not see any place where I can mention the amount for the last year as exempt. Kindly advise
Ans: Dear Mrigank,
Firstly, congratulations on your award from the Department of Science and Technology. It's indeed a great achievement.
Coming to your query, the fellowship you receive as part of the award is exempt from income tax under Section 10(17A) of the Income Tax Act. However, the ITR-1 form does not have a specific field to report this exemption.
Here's what you can do:
1. You need to report this income under the head "Income from Other Sources".
2. Then, you can claim the exemption under Section 10(17A) in the 'Exempt Income' section of the ITR form.
3. In the 'Exempt Income' section, select 'Others' and specify the details of the exemption, i.e., fellowship received under Section 10(17A).