PART VII GENERAL PROVISIONS RELATING TO TAXATION OF INCOME OF INDIVIDUALS
CHAPTER IV SPECIAL PROVISIONS
331 Scholarship income.
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Income arising from a scholarship held by a person receiving full-time instruction at a university, college, school or other educational establishment shall be exempt from income tax, and no account shall be taken of any such income in computing the amount of income for income tax purposes.
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In this section “scholarship” includes an exhibition, bursary or any other similar educational endowment.