How To Know If Stipend or Scholarship or Fellowship Awarded To You Is Tax Exempt?

It is very common question among students who get stipend or fellowship or scholarship either in India or for studying in foreign universities. But the question that hounds the student or recepient of scholarship is  whether the amount received by them is taxable under Income Tax Act in case they are resident of India  .Many readers had asked the questions on teh same issue which are bunched together and answered in detail.