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Abdul Sayeed

Wrote on 27 April 2012

Sory but i m not able to understand this.If an employee recived gift from his employer than it should be charge in the hand of employee in inc.from salary.can you please expln thank you

Harita Ravikumar

Wrote on 27 April 2012

whats the provision regarding gifts given by employer to employee ? how is it treated for the employers total income and the employees total income ?

Movable property is purchased from other than relative for Rs. 400000/-having govt. value at Rs. 500,000/- having difference of Rs.100000/-will it be taxable? 56(2)(vii)(b)covers the transactions without consideration.